FTWZ VS BONDED WAREHOUSE

INBOUND PROCESS

FTWZ Day BONDED WH
  • Vessel Birthing
  • IGM Confirmation
  • Warehouse B/E Filing with Customs
Day 1
  • Vesssel Birthing
  • IGM Confirmation
  • TNR movement to nominated CFS
  • Warehouse B/E Filing with Customs
  • Fulfilment of transhipment formality completion with Dock Customs
  • Placement of Trailers
  • Movement of Laden Container
Day 2
  • The arrival of Laden Container at FTWZ
  • Destuffing Cargo
  • Storage
  • Returning of Empty Container to the yard.
Day 3
Day 4
  • Post-Assessment, Application for Bonding permission
  • Submission for space certificate from Bond Officer
Day 5
  • Obtaining Permission from Bond Officer
  • Execution of Triple Bond Duty
  • Destuffing Cargo at Bonded Warehouse
  • Returning of Empty Container to the yard.
  • 3 Working Days
  • Lesser Documentation Formalities
Summary
  • 5 Working Days
  • Tedious Documentation Formalities

OUTBOUND PROCESS

FTWZ Day BONDED WH
  • Filing Home Consumption B/E
  • Customs Assessment
  • Duty Payment
  • Obtaining Out of Charge*
  • Placement of Vehicle
  • Shifting, Loading and Dispatch of Vehicle**
Day 1
  • Submission ex-bonding application
Day 2
  • Obtaining Permission for ex-bonding
  • Triple Duty Bond Cancellation
  • Obtaining CFS and Bond Charges
Day 3
  • Duty Payment and Interest of Duty (if, exceeds 90 Days of bonding)
  • Payment of CFS and Bond Charges
Day 4
  • Obtaining Out of Charge
  • Placementof Vehicle, Shifting Cargo, Loading and Dispatch of Vehicle***
  • 1 Working Day
  • Less Documentation
Summary
  • 4 Working Days
  • Tedious Documentation
*Subject to duty Payment
**NOC is to be obtained during storage period
***If any NOC required a minimum of 3 working days, will be extra

FREE TRADE WAREHOUSING ZONE VS BONDED WAREHOUSE

FTWZ BONDED WH
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 The Goods are NOT assessed for any duty since the FTWZ is a Deemed port. A Bill of Entry for WH consumption to be filed with FTWZ Unit to transfer 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 re-export 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 A Double-duty bond is not required. Additional double duty bond required.
Movement from Customs Gateway Goods are transported from customs gateway to Serama Logistics' FTWZ via transhipment procedure without assessment by customs, which decreases Customs process lead time. The movement of goods into the bonded warehouse are subject to examination at Gateway Customs.
Holding Goods on The account of Foreign Supplier / Buyer ownership Not permitted. Only Indian registered company with valid IEC and GST
Period of Storage SEZ Rule 37 allows the Unit Holder to keep the goods in the FTWZ till the validity of the Unit Holder. The goods in the FTWZ not assessed for duty. One Year, further extension allowed subject to approval from the 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 the Customs office.
Customs procedure for Removal of Goods Hassle-Free procedure for Removal of goods from FTWZ to DTA. Customs processing is 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 with Allied Acts The payment of duty and compliance with allied acts is only applicable 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 moving out of goods with applicable interest upon production of relevant import license or NOC from the respective authority.
Regional Trade Hubs This facility can be a regional hub for the vendor. Permits operations of the VMI model with Foreign Currency models Cannot be used as a regional hub since no facilities are available for the 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 subject to Customs permission in advance of any such activity.
The currency of Payment/Trading All Payments in Free Foreign Exchange including INR All payments in INR only.