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Payment of Goods and Service Tax (GST) on Administrative Cost payable by the Shipping Cos. opting for Tonnage Tax.
Applicable to:
Shipping Companies opting for Tonnage Tax
Effective Date:
1st July, 2017
Superseded Circulars:
Tonnage Tax Circular No. 1 of 2009
Key Changes and Requirements
1. GST on Administrative Cost
Shipping Companies opting for Tonnage Tax must now pay GST of 18% (9% SGST + 9% CGST) on Administrative Cost.
- Rate: 18%
- Payable to: Maritime Training Trust
- Trust GST Registration No.: 27AABTM4048D11S
Note: GST rate may change as per GST rulings.
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