CBDT notifies conditions for applicability of presumptive taxation regime for non-resident cruise ship operators under Finance (No. 2) Act, 2024.
Conditions prescribed-
- Applies to ships with >200 passenger capacity or >75m length.
- Scheduled voyages touching at least 2 Indian sea ports or same sea ports of India twice.
- Passenger-focused operations and not cargo.
- Compliance with guidelines issued by Ministry of Tourism/Shipping.
This aims at promoting investment & employment in the cruise sector!
