Goa Value Added Tax based subsidy on H.S.D. Oil consumed by Fishing Vessels Scheme, 2012

 
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1. Short title and commencement.--

(1) This Scheme may be called the Goa Value Added Tax based subsidy on H.S.D. Oil consumed by Fishing Vessels Scheme, 2012.

(2) It shall come into force from the financial year 2012-13 onwards.

2. Introduction.--

(1) It is observed that the operational cost of the fishing vessels have been increasing alarmingly due to the ever rising cost of the fuel, the H.S.D. Oil. The cost of fuel constitutes 60% of the operational cost of fishing vessel. With the reported depletion in fish catch, the fishing trips prove to be uneconomical. Returns in fishing have become every uncertain as fishermen may have to wander in the sea for a whole day without any fish catch. The plight of fishermen is therefore, very miserable.

The diesel prices are increasing day by day however, the fish catch has shown no sign of increase. Further, with the introduction of Value Added Tax in the State, the total tax has also been increased. The Owners of fishing vessels have been demanding the exemption of the VAT as the sales tax was exempted for them before introduction of VAT. However, since under VAT such exemption cannot be given as there is no provision in the Goa Value Added Tax Act, 2005 (Goa Act 9 of 2005) implemented with effect from (April, 2005).

Therefore, it has proposed to grant subsidy on Value Added Tax paid on the H.S.D. Oil consumed by the fishing vessels in the State of Goa.

3. Objectives.--

The main objective of the Scheme is to provide relief to the operators of the fishing vessels to overcome the financial losses suffered by them on account of the ever-increasing cost of the fuel, the H.S.D. Oil so as to enable them to sustain themselves.

This Scheme thus designed to support fishing industry in the State of Goa by granting subsidy on Value Add ed Tax payable by fishing vessels on H.S.D. Oil consumed by them for the propose of fishing activities.

4. Eligibility conditions.--

For being eligible under this Scheme, the owner of the fishing vessel--

a) Should be registered under the Goa, Daman and Diu Marine Fishing Regulation Act, 1980 (3 of 1981);

(b) Shall be a member of a registered co-operative society;

(c) Should possess a valid net licence and fishing licence for the year;

(d) Shall not be a defaulter of the Department of Fisheries;

(e) Shall not be a violator of the Goa, Daman and Diu Marine Fishing Regulation Act, 1980 (3 of 1981) and Rules framed thereunder;

(f) Shall...

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