Published in:
The Times of India
Pubished on:
1 Sep 2016
The Central Board of Direct Taxes (CBDT) has streamlined the process of issue of No Objection Certificate (NOC), Port Clearance Certificate (PCC), Voyage Return and Voyage Assessment in case of foreign shipping companies (FSCs).It has issued a circular regarding this purpose.
This prescribes guidelines for assessing officers to be followed for issue of said NOC leading to port clearance of ships belonging to foreign shipping companies. The assessment of voyage returns subsequently filed by the FSCs shall also be governed by the same.This Circular is another step by the CBDT towards further improving the ease of doing business in India for the foreign shipping companies.