Clarification on setting up Duty Free Shops approved by FIPB -reg.

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....& Customs Directorate General of Export Promotion      New Delhi, the 14^th November, 2008 Sub: Clarification on setting up Duty Free Shops approved by FIPB -reg.             Many proposals of foreign direct investment for setting up duty free shops at airport/ports are being considered by the Foreign Inves....

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....g foreign investment and any such approval does not automatically confer a right on the applicant to open a duty free shop at any port. The observance of any conditions stipulated under the Customs Act, 1962 and rules and regulations made thereunder is mandatory. CBEC has laid down instructions, conditions and guidelines for setting up private bonded warehouse from time-to-time, notably under circ....