Section – 115VC : Qualifying company
March 5, 2018
Section – 115VE : Manner of computation of income under tonnage tax scheme
March 5, 2018

Section – 115VD : Qualifying ship

115VD. For the purposes of this Chapter, a ship is a qualifying ship if—

(a) it is a sea going ship or vessel of fifteen net tonnage or more;

(b) it is a ship registered under the Merchant Shipping Act, 1958 (44 of 1958), or a ship registered outside India in respect of which a licence has been issued by the Director-General of Shipping under section 406 or section 407 of the Merchant Shipping Act, 1958 (44 of 1958); and

(c) a valid certificate in respect of such ship indicating its net tonnage is in force,

but does not include—

(i) a sea going ship or vessel if the main purpose for which it is used is the provision of goods or services of a kind normally provided on land;

(ii) fishing vessels;

(iii) factory ships;

(iv) pleasure crafts;

(v) harbour and river ferries;

(vi) offshore installations;

(vii) [***]

(viii) a qualifying ship which is used as a fishing vessel for a period of more than thirty days during a previous year.

Leave a Reply

Your email address will not be published. Required fields are marked *

88 − = 79

Stay Connected

Never miss out on what’s new in GST,
Accounting, TDS, and Tax compliance.

Subscribe to our newsletter.

Connect with us on WhatsAapp.






Want to know more about HostBooks?

We'll help you out!






3 + 5 =
Please contact me by: