Duty free shop inaugurated at Visakhapatnam airport

Ravindra Babu, Amalapuram MP inaugurated the duty- free shop at Visakhapatnam Airport on Wednesday. Speaking on the occasion of the new inaugurated shop, Dr Ravindra Babu said, “In the coming days Visakhapatnam Airport traffic will improve and more number of flights will be operating from Visakhapatnam to other international destinations”. Duty free shops are retail outlets that are exempt from the payment of certain local or national taxes and duties, on the requirement that the goods sold will be sold to travelers who will take them out of the country. Which products can be sold duty-free vary by jurisdiction, as well as how they can be sold, and the process of calculating the duty or refunding the duty component.

The Airports Authority of India had floated a global tender in 2015 for operating duty free shops in 15 airports across the country, for a contract period of seven years. AGM Duty Free Selatan Sdn. Bhd of Malaysia, participated in the contract and secured the tender for operating duty free shops in five airports such as Trivandrum, Visakhapatnam, Pune, Coimbatore and Madurai.

ImageCredits:thehindu.com