| 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 |
Since the FTWZ is a Deemed Port the Goods are NOT assessed for
Duty. A Bill of Entry for WH consumption is filed with FTWZ
Unit for transfer of 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 reexports
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 |
No requirement for a double duty bond |
Additional double duty bond required |
| Movement from Customs Gateway |
Goods are transported from customs gateway to Serama
Logistics’ FTWZ via trans- shipment procedure without
assessment by customs in turn decreasing Customs process lead
time
|
Movement of goods into the bonded warehouse are subject to
assessment at Gateway Customs
|
| Holding Goods on |
Account of Foreign Supplier / Buyer ownership |
Not permitted. Only Indian registered company with valid IEC
and GST
|
| Period of Storage |
SEZ Rule 37 permits the goods to be kept until the Validity of
the Unit Holder. The goods in the FTWZ are not assessed for
Duty
|
One Year, further extension allowed subject to approval from
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
Customs office
|
| Customs procedure for Removal of Goods |
Hassle-Free procedure for Removal of goods from FTWZ to DTA.
Customs processing 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 of Allied Acts |
Payment of duty and compliance to allied acts only 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 removal of goods
along with applicable interest & upon production of applicable
import license or NOC from respective authority
|
| Regional Trade Hubs |
Possibility of using this facility as a regional hub. Permits
operations of VMI model with Foreign Currency models
|
Cannot be used as a regional hub since, no facilities are
available for 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 permitted subject to Customs
permission in advance of any such activity.
|
| Currency of Payment/Trading |
All Payments in Free Foreign Exchange including INR |
All payments in INR only. |
