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The government, for promoting the indigenous shipbuilding industry as a part of the ‘Make in India’ initiative, has exempted inputs that are used in ship manufacturing and repair from customs and central excise duties.
An official statement said that “Inputs used in ship manufacturing and repair have been exempted from Customs and Central Excise Duties with effect from November 24, 2015”.
The statement by Ministry of Shipping said that “with a view to counter the cost disadvantage to Indian shipyards and to promote indigenous shipbuilding industry as part of the ‘Make in India’ initiative, the Ministry of Shipping had taken up this issue with the Department of Revenue, Ministry of Finance”.
