The Scheme for Remission of Duties and Taxes on Exported Products (RoDTEP) support, which was earlier notified till September 30, 2023, has now been extended till June 30, 2024, at the same rates as the existing export items. The issued scheme is WTO compatible and is being implemented in an end-to-end IT environment. The Commerce Ministry said that the move is aimed at helping India's exporting community negotiate export contracts in the current global environment on better terms.
In a related development, the RoDTEP Committee has again been constituted in the Department of Revenue, in line with the scheme framework. The Committee will review and recommend the ceiling rates under the RoDTEP scheme for different export sectors.
The Committee held its first interaction today (September 26) in New Delhi with the Export Promotion Councils (EPCs)/Chamber of Commerce and discussed the methodology and other issues relating to the scheme and its implementation.
In their observations, the EPCs emphasised the need for enhancing the RoDTEP budget allocation and for higher rates to be made available to all export items to help them secure greater market access abroad.
The RoDTEP scheme was introduced by the government as a duty remission scheme on exports and has been implemented since January 1, 2021.
The scheme provides a mechanism for reimbursement of taxes, duties and levies, which are currently not being refunded under any other mechanism, at the central, state and local levels, but which are incurred by the export entities in the process of manufacture and distribution of exported products.
Under the scheme, support of Rs 27,018 crores had been extended for the 27-month period till 31.03.2023.
The RoDTEP scheme operates within a budgetary framework, and for the fiscal year 2023-24, a budget of Rs. 15,070 crores is available to support 10,610 HS lines at the 8-digit level.
(Edited by : Anand Singha)
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