What is free trade warehousing zone?
A Free Trade Warehousing Zone (FTWZ) is a specially designated area where goods can be imported, stored, and exported without having to pay duties or taxes until they leave the zone. This provides significant advantages for businesses involved in international trade by allowing them to store goods in a customs-bonded warehouse within the zone without having to pay duties or taxes until the goods are removed for use in the domestic market or exported to other countries.
FTWZs are typically located near ports, airports, and major transportation hubs, and they offer several benefits to businesses, including reduced customs clearance time, simplified documentation requirements, and improved security measures. By allowing businesses to defer customs duties and taxes until the goods leave the zone, Trade Warehousing Zone Mumbai also provides cash flow advantages...Read more