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Remission of Duties & Taxes on Exported Products (RoDTEP) Special Features
Remission of Duties & Taxes on Exported Products (RoDTEP) Scheme :Launch,Objectives and Benefits
This scheme was announced in 2019 by the Government of India & it became effective on 1 January 2021.In this scheme exporters will receive refunds on taxes and duties.
Objectives of RoDTEP
The aim of the scheme is to boost the export of goods that are poor in volume.
The scheme is a combination of the Merchandise Export from India Scheme (MEIS)& the Rebate of State & Central Taxes & Levies (RoSCTL).
The refund in this scheme would be claimed as a percentage of Freight On Board (FOB) value of exports.
The scheme provides rebates of Central,State & Local Duties/Levies/Taxes which are not refunded under any other duty remission schemes.
RoDTEP benefits
*It will help exporters grow their business.
*Education cess,state taxes on oil,power and water are also covered under this scheme.
*The scheme will add more competitiveness in the foreign markets.
Features of RoDTEP
*The scheme is applicable for all sectors.
*Faster clearance through a digital platform.
*Automated refund system.
Eligibility for RoDTEP
*The product should be of Indian Origin.
*All sectors shall be covered.
*Re-exported products are not eligible.