Enjoy Duty-Free Imports in India and Hassle-Free Re-exports from India via FTWZ
Import/Export to/from India or in most countries across the world attracts multiple taxes, fees, and customs duties. These add up to the overall cost of the merchandise, raw materials, and finished goods being imported or exported.
Sometimes, importing fragile goods turns out to be a nightmarish experience for importers mainly because a significant portion of the consignment is damaged during the transit itself. But, that doesn’t save them from the duties and taxes that accompany it. The same happens in the case of medicines, food items, and other perishable items – raw or finished as they are quite vulnerable to being spoiled on the way.
This is when you can benefit immensely from the logistics provider such as OSV FTWZ & Logistics which is known for handling perishable cargo in India and has added temperature and cold storing facilities in tier I cities PAN India.
Whether you import mobile phones, smart televisions, electronics, gadgets, food, drug, or apparel from another country to India, you can benefit immensely by using OSV’s free trade zone in Delhi NCR, Chennai, Mumbai, and Gujarat. Choosing the Free Trade Zones/FTZs not only saves you from multiple taxes and customs duties but also reduces your compliances.
How do I defer customs duties with FTZ in India?
Let’s face it, importing anything from any other country in India imposes multiple taxes and you will have to pay them no matter what. But, if you choose to use OSV’s free trade zone in India, you can enjoy duty-free imports.
Let us understand it by an example – Suppose you import cargo worth 1 crore in India on which 30% Customs Duty is applicable i.e. 30 lakh customs duty that you need to pay upfront but when FTWZ comes in the purview this upfront customs duty is deferred and only needs to be paid when the shipment moves out for DTA Sales that too on parts and proportions.
Let us have a quick overview of what a free trade zone is all about – A free trade zone in India or free trade warehousing zone also called a foreign-trade zone, refers to the SEZ (Special Economic Zone) meant specifically for trading, importing, warehousing, and carrying out other permitted activities.
This zone is considered a foreign territory for the purpose of trade and tariff even if it is geographically situated within the boundaries of India. The activities that are typically allowed inside the free trade zones include packaging, labeling, handling, reconfiguring, repackaging, strapping, re-invoicing, kitting, etc.
With OSV’s free trade zones, you enjoy duty-free imports to India along with various compliance benefits. That’s not all! You enjoy hassle-free and duty-free re-exports from India if you, later on, want to move the goods from the free trade zone to the international markets for sale.
To know more about duty deferment and other advantages of using OSV free trade zone in Delhi NCR, Mumbai, Chennai, Gujarat, or elsewhere in India, you may contact the experts at OSV – The leading free trade zone and logistics service provider in India.