Vessel Engaged Under SEAIOCM Agreement Qualifies As 'Foreign Going Vessel' For Exemption U/S 87 Of Customs Act: Kerala High Court

The Kerala High Court has ruled that a vessel engaged under a SEAIOCM agreement qualifies as a "foreign-going vessel" for exemption under Section 87 of the Customs Act. The SEAIOCM (Service Agreement for Indian Ocean and Coastal Management) relates to specific types of maritime operations. The court found that vessels operating under such agreements perform duties that align with the definition of a foreign-going vessel, making them eligible for customs duty exemptions on consumables and stores. This decision provides significant clarity and relief to shipping companies engaged in coastal operations under such agreements.