The government Tuesday extended support under scheme for Remission of Duties and Taxes on Exported Products (RoDTEP) till June 30, 2024 from September 30, 2023. The commerce and industry ministry said this will help exporters negotiate contracts in the present international environment on better terms.
The scheme provides a mechanism for reimbursement of taxes, duties and levies, which are currently not being refunded under any other mechanism, at the central, state and local levels, but which are incurred by the export entities in the process of manufacture and distribution of exported products.
“The scheme is WTO compatible and is being implemented in an end-to-end IT environment,” the ministry said in a statement. The scheme was introduced as a duty remission scheme on exports and is being implemented from January 1, 2021.
