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Calculation of Net Tonnage factor for Financial Year
Key Changes and Requirements
1. Net Tonnage Factor Calculation
The Net Tonnage Factor for the financial year 2011-12 (AY 2012-13) is 9057. This factor is calculated by dividing the aggregate Net Tonnage of all qualifying ships registered under the Merchant Shipping Act, 1958 at the end of the preceding financial year by the total number of such ships at the end of the preceding financial year.
- Calculation Method: Aggregate Net Tonnage / Total Number of Ships
- Notification Timing: Within 60 days from the beginning of each financial year
2. Mandays Calculation for Space/Slot Charters
For space or slot charters, the number of mandays is calculated by dividing the Net Tonnage of slot/space charters by the Net Tonnage Factor, then multiplying the result by the number of days the ships are operated during the financial year. Any shortfall from the immediately preceding financial year is also included.
- Calculation Method: (Net Tonnage / Net Tonnage Factor) * Number of Days + Shortfall from Previous Year
Companies should ensure they comply with the guidelines issued by the Ministry of Shipping, Road Transport & Highways, Deptt. Of Shipping, Gazette Notification dated 12/12/2007.
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