| Status |
SEZ Act Sec 53(2). FTWZ is a Deemed Port |
No Deemed Port status. |
| NFE |
FTWZ Units are required to be NFE positive under SEZ Rule 53
|
No NFE requirement by Bonded Warehouses |
| Assessment of Duty |
The Goods are NOT assessed for any duty since the FTWZ is a
Deemed port. A Bill of Entry for WH consumption to be filed
with FTWZ Unit to transfer goods from Airport/ Port to FTWZ.
|
Bill of Entry for Warehousing is filed and assessed to duty
before being permitted to move to the Bonded WH.
|
|
Multi-Country Consolidation & Easy of EXIM Trade
|
Consolidation of goods from Multi-Country permitted as per
customer's requirement. Hassle-Free procedure for re-export
and re-import, unlike standard customs procedure.
|
Consolidation of goods not Permitted. Re-imports and
re-exports go through standard customs approval procedures.
|
| Duty Deferment Bond |
A Double-duty bond is not required. |
Additional double duty bond required. |
| Movement from Customs Gateway |
Goods are transported from customs gateway to Serama
Logistics' FTWZ via transhipment procedure without assessment
by customs, which decreases Customs process lead time.
|
The movement of goods into the bonded warehouse are subject to
examination at Gateway Customs.
|
| Holding Goods on |
The account of Foreign Supplier / Buyer ownership |
Not permitted. Only Indian registered company with valid IEC
and GST
|
| Period of Storage |
SEZ Rule 37 allows the Unit Holder to keep the goods in the
FTWZ till the validity of the Unit Holder. The goods in the
FTWZ not assessed for duty.
|
One Year, further extension allowed subject to approval from
the Chief Commissioner of Customs.
|
| Interest on Duty |
Interest on Duty not applicable |
Beyond 90 Day, interest is levied. |
| Customs Set Up |
Dedicated customs setup available within the FTWZ 24x7x365
|
Dedicated customs setup could be done subject to approval from
the Customs office.
|
| Customs procedure for Removal of Goods |
Hassle-Free procedure for Removal of goods from FTWZ to DTA.
Customs processing is done within the FTWZ zone
|
All customs processing with the customs house located away
from the bonded facility with multi authorities involvement
(AO/EO/PO/Bond Officer)
|
| Compliance with Allied Acts |
The payment of duty and compliance with allied acts is only
applicable when the goods move out of FTWZ into DTA.
|
Bond permission after production of necessary NOC related to
Allied Acts. Payment of duty at the time of moving out of
goods with applicable interest upon production of relevant
import license or NOC from the respective authority.
|
| Regional Trade Hubs |
This facility can be a regional hub for the vendor. Permits
operations of the VMI model with Foreign Currency models
|
Cannot be used as a regional hub since no facilities are
available for the export of goods and only INR transactions
are permitted within a bonded warehouse.
|
| Value-added Services (VAS) |
Can carry out Value-added Services as provided in SEZ Rule 18
(5)
|
Value-added Services are subject to Customs permission in
advance of any such activity.
|
| The currency of Payment/Trading |
All Payments in Free Foreign Exchange including INR |
All payments in INR only. |
