The government has approved crucial changes to the Remission of Duties and Taxes on Exported Products (RoDTEP) scheme, providing extended relief and support for exporters.
Key Updates:
Domestic Tariff Area (DTA) Units: The RoDTEP scheme has been extended by one year, now applicable until September 30, 2025.
Authorisation Holders & Export-Oriented Units: For these units, including Special Economic Zone (SEZ) units (excluding deemed exports), the scheme will apply until the end of 2024.
New Rates Implementation: The new rates for refunds will be applicable from October 10, 2024, as recommended by the RoDTEP Committee.
About the RoDTEP Scheme:
Launched in 2021 by the Ministry of Commerce and Industry, the RoDTEP scheme aims to refund central, state, and local taxes, duties, and levies on exported products. It was introduced as a replacement for the Merchandise Exports from India Scheme (MEIS), which was challenged at the World Trade Organization.
By refunding various duties, the scheme helps enhance the competitiveness of Indian products in the global market.
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