Foreign investment approval does not substitute customs licensing; duty free shops require separate customs compliance before operation. Approval by the Foreign Investment Promotion Board is confined to permitting foreign financial and technical collaboration and does not confer a right to open duty free shops; applicants must comply with the Customs Act, applicable rules, CBEC instructions on private bonded warehouses and obtain separate prescribed customs licences and clearances, with jurisdictional Commissioners required to ensure full compliance before granting licences.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Foreign investment approval does not substitute customs licensing; duty free shops require separate customs compliance before operation.
Approval by the Foreign Investment Promotion Board is confined to permitting foreign financial and technical collaboration and does not confer a right to open duty free shops; applicants must comply with the Customs Act, applicable rules, CBEC instructions on private bonded warehouses and obtain separate prescribed customs licences and clearances, with jurisdictional Commissioners required to ensure full compliance before granting licences.
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