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National News

Jan 01, 2021
8:16AM

Govt extends benefit of RoDTEP scheme to all export goods to boost export from today

AIR PIC
Government has decided to extend the benefit of the scheme for Remission of Duties and Taxes on Exported Products (RoDTEP) to all export goods with effect from today to boost export. The scheme will refund to exporters the embedded Central, State and local taxes that were so far not being given rebate or refunded. The refund will be credited in the exporter's ledger account with Customs and used to pay Basic Customs duty on imported goods. The credits can also be transferred to other importers.

The RoDTEP rates will be notified shortly by the Department of Commerce, based on the recommendation of a Committee chaired by former Commerce and Home Secretary Dr. G.K. Pillai. The final Report of the Committee is expected shortly. An exporter desirous of availing the benefit of the RoDTEP scheme will have to declare his intention for each export item in the shipping bill or bill of export. The notified rates, irrespective of the date of notification, shall apply with effect from 1st January, 2021 to all eligible exports of goods.

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