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Government decides to provide further Indirect Tax Incentives to Domestic Shipbuilding Industry

Dated:- 26-11-2015 - The Government has decided to provide further indirect tax incentives for domestic shipbuilding industry. Accordingly, the Central Government has issued Notification Nos. 44/2015-Central Excise, 45/2015-Central Excise, 54/2015-Customs and 55/2015-Customs all dated 24.11.2015 so as to provide the following indirect tax incentives to the aforesaid industry: 1) Exemption from customs and central excise duties on all raw material and parts for use in the manufacture of ships/ves .....

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s/parts consumed in manufacture of such ships/vessels etc which are cleared to DTA, even if such ships/vessels are exempt from basic customs duty and Central Excise/CV duty. 3) Simultaneously, the requirement of manufacturing of ships/vessels/ tugs and pusher craft etc. in a custom bounded warehouse under the provisions of Section 65 of the Customs Act, 1962, for availing the customs and excise duty exemptions has also been done away with. Instead, these exemptions will now be subject to actual .....

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