Aiming to boost exports and help exporters reclaim all central and state taxes levied on their products, the Center on Tuesday notified the waiver of duties and taxes on exported products or the RoDTEP scheme.
Commerce Secretary Piyush Goyal tweeted about the scheme: “Government is updating the guidelines and tariffs of the RoDTEP scheme to boost exports by creating a level playing field for exporters, leading to greater competitiveness and more employment. an Aatmanirbhar Bharat.”
Employment-oriented sectors such as shipping, agriculture, leather, gemstones and jewelry are covered, while other sectors such as autos and electronics are also supported by it, official sources said.
“The zero-tariff scheme for exports will boost our exports and competitiveness in global markets. RoDTEP’s tariffs will cover 8555 tariff lines,” the ministry said in a statement.
The main purpose of the scheme is to refund any duties or taxes that are currently non-refundable, official sources said.
It will refund all duties, taxes and duties at the central, state and local level borne on the exported products and also taxes levied on the distribution of such products.
It should be noted that rebate under the scheme will not be available in respect of duties and taxes that have already been exempted or waived or settled, the official statement said.
“RoDTEP will boost Indian exports by providing a level playing field for domestic industry abroad and will support all eligible exporters at a notified rate as a percentage of the Freight On Board (FOB) value. certain export products will also be subject to a value cap per unit of exported product,” it added.