The Directorate General of Shipping (DGS) on June 08, 2023, issued a notification regarding the Calculation of the Net Tonnage factor for Financial Year 2022-23 (AY 2023-24) to be used by Tonnage Tax Companies having Space / Slot arrangement
This has a reference to the guidelines for providing training by the shipping companies opting for the Tonnage Tax Scheme under Chapter XII G of Section 115 VU of the Income Tax Act, 1961 was issued by the GOI, Ministry of Shipping Gazette Notification dated December 12, 2007 and the CBDT notification dated March 29, 2005 for providing training by Shipping Companies opting for Tonnage Tax scheme
The following has been stated namely: -
• It states that the Net tonnage factor for the financial year 2022-23 (AY 2023-24) has been worked out as 9500. This may be used in conjunction with the net tonnage of slot/space charters calculated under the CBDT notification dated March 29, 2005, issued in the official gazette to work out the minimum training requirement for such arrangements for FY 2022 23.
[Circular No. 14 of 2023]
