1. Can ships be treated as capital goods with respect to a shipping company? If yes, is approval required if shares are issued as consideration for purchase of ships from a non-resident?
2. Can a shipping company avail of ECB from a non-resident shareholder?
Normally there is a seprate Article on DTAA's regarding the ships which covers the sale of ships also. Kindly check the same .
Yes shipping Company can avail ECB provided ECB guidelines are followed.
Anuj
091-9810106211
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
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