Finally, the Government has notified much-awaited export incentive scheme Remission of Duties and Taxes on Exported Products (‘RoDTEP Scheme’). The Scheme has been made effective from January 1, 2021 to grant rebate on exported products made on or after January 1, 2021 as a fixed percentage of FOB value of exported products with a maximum cap per unit. Rates notified range from 0.3% to 4.3% is very less as compared to MEIS benefits ranging from 2% to 7% were available in past under MEIS.

Also, projected remissions for each year will have to be managed within the approved budgetary outlay. The budgetary allocation will be fixed by the revenue department in consultation with its commerce counterpart.

Click on the below link to read appended booklet intends to basic concept, procedures and key issues emanating due to implementation of the RoDTEP Scheme.

NITYA Insight I Issue 232 I RoDTEP Scheme – Concept, Procedures and Key Issues