What are the benefits of free trade warehousing zone
A free trade warehousing zone (FTWZ) is Deemed foreign territory within the geography of India for the purpose of tariff & trade. FTWZ is Special Economic Zone where trading, warehousing & other activities such as packaging, labelling, re-sale, re-export, assembly, trans-shipment are carried out. FTWZ is exempt from import and export duties. These zones are typically used by businesses to store goods before distribution. FTWZ unit can hold goods on account/behalf of foreign as well as Indian entities The facility is ideally suited for foreign entities who do not have an establishment in India but wish to sell their goods in India by retaining title on goods while in storage and subsequently upon finding buyer can sell the goods by invoicing in foreign currency. All duties and taxes are borne by the buyer upon sale of goods. The facility can also be used for re-exporting the goods to third countries without payment of any taxes. FTWZ also allows wa...