Our Free Trade Zone in Chennai provides the advantage of importing and exporting with duty deferment, tax benefits, cost efficiency, and optimized distribution channels. It also facilitates re-exporting goods from India without the typical burden of Indian duties and taxes. Additionally, we offer comprehensive services like repacking, relabeling, kitting, palletization, and assembly, all tailored for non-duty-paid goods.
Free Trade Zone FAQs
What is a Free Trade Warehousing Zone in India?
Free Trade Warehousing Zone, a Special Category of Special Economic Zone, can be a stand-alone or a demarcated area within a sector-specific or multiproduct specific SEZ. FTWZ is a deemed Foreign Territory with special status and benefits. It is a dedicated platform for warehousing and trading, governed by SEZ act 2005 & Rules 2006.
How businesses benefit from FTWZ?
A Free Trade Warehousing Zone offers several benefits for businesses, including tax exemptions, duty-free imports and exports, and simplified customs procedures. These incentives help reduce operational costs, improve profit margins, and enhance competitiveness in the global marketplace.
What activities are permitted inside the FTZs?
The activities that are allowed inside a free trade zone include warehousing and storage of goods, re-exporting your commodity duty-free, trading with/without labeling, packing, quality checking, lashing, strapping, shrink wrapping, consolidation, clubbing, bottling, palletization, kitting, testing, combination packing, assembling of semi-knockdown and finished goods and other operations.
Can the goods be kept forever inside the FTWZ without paying taxes and customs duty?
Goods can be warehoused inside the free trade warehousing zone for 3 years which is extendable up to 5 years in special permissions. Post that the cargo is either auctioned or can be cleared/re-exported by paying custom duties.
How long does customs clearance take via FTWZs?
Typically, customs clearance for imported goods through a free trade zone or free trade warehousing zone is completed within 24 to 48 hours.
What types of industries commonly utilize FTWZs for trading and business purposes?
FTWZs are utilized by a diverse range of industries, including pharmaceuticals, luxury goods, chemicals, medical devices, liquor, auto parts, aviation, electronics, IT (servers), food, electrical appliances, polymers, pulses, edible oil, sugar, fruits, dry fruits, industrial machinery, and electric machinery and equipment.
Why do pharmaceutical companies prefer FTWZs?
Pharmaceutical companies benefit from FTWZs for efficient storage, streamlined customs processes, and the ability to maintain product integrity through advanced cold storage facilities.
Have More Questions?
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