Government Implements Scheme on Exported Goods

Government has 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 1st January, 2021.

In order to boost export, the RoDTEP scheme would refund the embedded Central, State and local taxes to exporters. The refund would be credited in an exporter’s ledger account with Customs and used to pay Basic Customs duty on imported goods.

The rates in this regard would be notified shortly by the Department of Commerce.  The notified rates, irrespective of the date of notification, shall apply with effect from 1st January, 2021 to all eligible exports of goods.

Exporter desirous to get the benefit of the RoDTEP scheme shall be required to declare his intention for each export item in the shipping bill or bill of export.

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Government Implements Scheme on Exported Goods

Knowledge Source:

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