Asia/Pacific News
Call for Bunker Tax Exception for Indian Flagged Vessels
Nitin Gadkari, Minister of Union Shipping, Road Transport and Highways has requested that the Government of Indian state Odisha grant a Value Added Tax (VAT) exception on bunker fuel used by Indian flagged vessels operating along the coast and inland waterways, local media reports.
Gadkari is said to have stressed to Chief Minister Naveen Patnaik that the VAT exemption on bunker fuel will help promote the government's aim to shift cargo from rail and road to coastal shipping.
The Union Shipping Secretary is also said to have written a letter to the Chief Secretary echoing Gadkari's VAT exemption request.
It is reported that the Finance Department will review of the proposal before presenting it to Patnaik.
In October, Ship & Bunker reported that the Indian government was easing customs and excise duties on bunkers by extending tax exemptions to ships carrying containers domestically.
In December, Hinode's fifth annual conference on the outlook for bunkering and marine lubricants in India has highlighted progress and opportunities for bunkering in the nation.
