Policy

Remission of duties and taxes on exported products scheme to come into effect from January 1

Our Bureau New Delhi | Updated on December 31, 2020 Published on December 31, 2020

The Centre on Thursday 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 January 1.

Accordingly, the notified rates, irrespective of the date of notification, will apply with effect from January 1 to all eligible exports of goods.

The RoDTEP scheme would refund to exporters Central, State and local duties/taxes to which were so far not being rebated/refunded and were, therefore, placing exports at a disadvantage. The refund would be credited in an 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 would be notified shortly by the Commerce Ministry, based on the recommendation of a Committee chaired by former Commerce and Home Secretary G K Pillai. The final Report of the Committee is expected shortly.

An exporter desirous of availing the benefit of the RoDTEP scheme will be required to declare his intention for each export item in the shipping bill or bill of export. The RoDTEP will be allowed, subject to specified conditions and exclusions.

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Published on December 31, 2020
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