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Govt notifies RoDTEP guidelines; announces tax refund rates for 8,555 tariff lines

Govt notifies RoDTEP guidelines; announces tax refund rates for 8,555 tariff lines

The aim of these guidelines is to provide greater competitiveness under the Aatmanirbhar Bharat campaign and boost employment generation

The rates for different sectors include 0.5 per cent, 2.5 per cent and 4 per cent The rates for different sectors include 0.5 per cent, 2.5 per cent and 4 per cent

The government has notified the RoDTEP Scheme Guidelines & Rates for boosting exports by creating a level-playing field for exporters.

The government has decided to extend the benefit of Remission of Duties and Taxes on Exported Products (RoDTEP) scheme to all goods, with effect from January 1, 2021, a notification by the Directorate General of Foreign Trade (DGFT) said.

The rates for different sectors include 0.5 per cent, 2.5 per cent and 4 per cent.

The aim of these guidelines is to provide greater competitiveness under the Aatmanirbhar Bharat campaign and boost employment generation.

The scheme provides zero-rating of exports for domestic industries and identifies export sectors rates under RoDTEP to cover 8,555 tariff lines, the ministry statement said.

"Will enable “zero-rating” of exports for building an “Aatmanirbhar Bharat”," Minister of Commerce & Industry Piyush Goyal said.

Under the RoDTEP, various central and state duties, taxes, levies imposed on input products among others are refunded to exporters to boost exports.

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Published on: Aug 17, 2021, 4:34 PM IST
Posted by: Manoj Sharma, Aug 17, 2021, 4:32 PM IST