The government on Monday halved the rate of duty benefits under the export support scheme, RoDTEP, prompting the exporting community to seek a reconsideration of the decision.
The Remission of Duties and Taxes on Exported Products (RoDTEP) Scheme, launched in 2021, provides for a refund of taxes, duties and levies that are incurred by exporters in the process of manufacturing and distribution of goods, and are not being reimbursed under any other mechanism at the Centre, state or local level.
With immediate effect, the Directorate General of Foreign Trade (DGFT) said, the applicable RoDTEP rates shall be limited to 50 per cent of the existing rates.
Refunds under the scheme range from 0.3 per cent to 3.9 per cent.
“RoDTEP benefits shall be restricted to 50 per cent of the notified rates and value caps with immediate effect,” the DGFT said in a notification.
Commenting on the move, Federation of Indian Export Organisations (FIEO) President S C Ralhan said the reduction of rates and​The government on Monday halved the rate of duty benefits under the export support scheme, RoDTEP, prompting the exporting community to seek a reconsideration of the decision.
The Remission of Duties and Taxes on Exported Products (RoDTEP) Scheme, launched in 2021, provides for a refund of taxes, duties and levies that are incurred by exporters in the process of manufacturing and distribution of goods, and are not being reimbursed under any other mechanism at the Centre, state or local level.
With immediate effect, the Directorate General of Foreign Trade (DGFT) said, the applicable RoDTEP rates shall be limited to 50 per cent of the existing rates.
Refunds under the scheme range from 0.3 per cent to 3.9 per cent.
“RoDTEP benefits shall be restricted to 50 per cent of the notified rates and value caps with immediate effect,” the DGFT said in a notification.
Commenting on the move, Federation of Indian Export Organisations (FIEO) President S C Ralhan said the reduction of rates and ​Latest News [ SOBAN NEWS: International and National ]
