India Extends Tax Benefits on Bunker Fuel for Domestic Shipping

NEW DELHI, Oct 7 (Reuters) – India has extended the benefit of nil custom and production tax on bunker fuels to domestic coastal movement of containers, in a move to decongest its roads and reduce carbon emissions, a government statement said on Wednesday.

Earlier exemptions form the customs and production tax on bunkering fuel – 180 and 380 centistoke grade fuel oil – was available to Indian flag vessels carrying export-import cargoes and empty containers.

SEE ALSO: India Give Boost to Coast Shipping

India, the world’s third largest polluter, last week announced a plan to slow the rate at which it emits greenhouse gases as its economy grows, including promoting the use of renewable energy, investing in clean coal technology and planting more trees.

Unlike other large economies, India has ruled committing to absolute cuts in emissions, arguing its per capita emissions are far less than the global average. (Reporting by Nidhi Verma; Editing by Anand Basu)

(c) Copyright Thomson Reuters 2015.

Subscribe for Daily Maritime Insights

Sign up for gCaptain’s newsletter and never miss an update

— trusted by our 109,112 members