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Qualifying ship. 115VD. For the purposes of this Chapter, a ship 1[or inland vessel, as the case may be] is a qualifying ship if- (a) it is a sea going ship or vessel 1[or inland vessel, as the case may be] of fifteen net tonnage or more; (b) it is a ship registered under the Merchant Shipping Act, 1958 (44 of 1958), or a ship registered outside India in respect of which a licence has been issued by the Director-General of Shipping under section 406 or section 407 of the Merchant Shipping Act, 1958 1[or an inland vessel registered under the Inland Vessels Act, 2021, as the case may be]; (44 of 1958) and (c) a valid certificate in respect of such ship 1[or inland vessel, as the case may be] indicating its net tonnage is in force, but does not include- (i) a sea going ship or vessel 1[or inland vessel, as the case may be] if the main purpose for which it is used is the provision of goods or services of a kind normally provided on land; (ii) fishing vessels; (iii) factory ships; (iv) pleasure crafts; (v) harbour and river ferries; (vi) offshore installations; (vii) [***] (viii) a qualifying ship which is used as a fishing vessel for a period of more than thirty days during a previous year. Note:- 1 . Inserted by The Finance Act, 2025 dated 29.03.2025 w.e.f.01.04.2026.
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