Availability of benefits under tax refund scheme RoDTEP for exporters would be subject to conditions, restriction, ineligibility and fulfillment of procedural requirements as noticed by the government, an official statement said on Friday. The government on Thursday said it has decided to extend the benet of the Remission of Duties and Taxes on Exported Products (RoDTEP) scheme to all goods, with effect from Friday.
The finance ministry also said that the RoDTEP Benefit would be available from January 1 even if the rates and other details are prescribed later, within the next few days. “The benefit of RoDTEP would be available subject to the conditions, restriction, exclusions, ineligibility and fulfillment of the procedural requirements as noticed,” the ministry said in a statement on Friday.
It added that things which will be no tied shortly include details of export goods (tariff lines) eligible for scheme; applicable RoDTEP rate, value caps (wherever applicable) on such eligible goods/tariff lines; excluded category of exports; other conditions and restrictions and the procedural details for grant of RoDTEP duty credit, and utilization.
In March, the government approved the scheme for reimbursement of taxes and duties to exporters, with a view to give a boost the country’s dwindling outbound shipments. The scheme would refund to exporters the embedded central, state, and local duties and taxes that were so far not being rebated or refunded and were, therefore, placing India’s exports at a disadvantage.
