SEZs included in list of ports for advance licence

By Vijay Kumar

As per para 4.19 of the Handbook of procedure for the FTP 2004-09, Advance licence should be used only for export and import through certain specified ports. Now the SEZs of Santacruz, Kandla, Kochi, Vishakhapatnam, Chennai, FALTA, Surat and NOIDA are added to the list.

PUBLIC NOTICE NO. 52 /2004-2009, Dated : February 11, 2005Is income from smuggling liable to Income Tax and if so can deduction be claimed when the smuggled goods are confiscated? – See Breaking News for interesting case