The Shipping Ministry has simplified procedure and eliminated the requirement of registration of ship repair units with Directorate General (Shipping) as part of efforts to improve ease of doing business.
"Ministry of Finance and Ministry of Commerce & Industry have been informed to extend concessions and facilities to Ship Repair Units (SRUs) without insisting on the requirement of registration with DG (Shipping)," the Shipping Ministry said in a statement.
The concessions and facilities extended to SRUs include provision of bond facilities, duty free import of components, raw materials, consumables and capital goods.
It also include exemption of Central Excise duty on locally available components and raw materials by the Department of Revenue.
For grant of such concessions or facilities, the SRUs were required to be registered with DG (Shipping), the statement said.
DG Shipping was procedurally required to consult Ministries of Commerce, Company Affairs, Finance (Revenue & DEA), Planning Commission, Ministry of Shipping etc before grant of registration.
This procedure was time consuming and cumbersome, the statement added.
