Save losses on Rejected Goods with FTZ in India
While we hear a lot about many benefits and great returns on investment in the trade of import/export, there are challenges also that cannot be overlooked. Importing-exporting goods, raw materials, etc. are subject to losses caused by damaged or rejected goods.
Other than this, there are customs duties and taxes that also apply when goods are imported into foreign territory. All these add up to the costs of goods that are imported. The same translates into the expensiveness of such items.
You may wonder what if the goods are damaged during the transit or your targeted customers/buyers (enterprises, vendors, etc.) or the cargo is rejected by your buyers? Will customs duties and taxes still apply to these goods? Are damaged/broken/spoiled items subject to taxes and customs duties? Well, the answer is a sad “yes” and we simply cannot do anything about it, if they are imported directly from one country to another.
Is there a way to save these losses?
Of course, there is a very reliable and feasible way through which you can prevent the losses caused by rejected cargo or damaged goods. You may use the free trade zone in India for importing and storing goods. When inside these zones, the goods enjoy duty freedom and deferment. In other words, you don’t have to pay any customs duties, taxes, and fees on items that are kept inside the free trade zones.
Furthermore, in case the goods are rejected during the transit to your end customer, you can save losses resulting thereof.
Let me put it simply.
You can choose to re-export goods that have been rejected to another nation for selling. Re-exporting such goods via free trade zone in India spares you not only from custom duties and taxes but also from additional and unnecessary logistics costs including detention, demurrage, and transportation costs of moving such items back from the origin country to the destination country.
Also, if your customers do not want to buy the goods at a given time, you can keep them inside the free trade zone warehouse. The goods can be stored inside the FTZ warehouses for a period of 3 years which is further extendable up to 5 years and more. OSV’s free trade zone in Delhi NCR, Mumbai, Chennai, and Gujarat are among the most sought-after options for warehousing in India due to factors such as world-class infrastructure, temperature-controlled storage, 24*7 CRM Support, Safety, Security, etc.
If you are looking for the best warehouse in India, OSV is the name you need to know. With our free trade zone warehouses in India, you can defer and save customs duties and taxes, and enjoy several benefits that make import-export to India a highly profitable and hassle-free venture for you.
Please feel free to call us or drop us an email for further queries you have about our free trade zone warehouse in Delhi NCR or elsewhere in India.