RoDTEP (Syllabus: GS Paper 2 – Economy)

News-CRUX-10     28th September 2023        
Samadhaan

Context: The Scheme for Remission of Duties and Taxes on Exported Products (RoDTEP) support is now being extended till 30 June 2024. 

  • The RoDTEP Committee has also been constituted in the Department of Revenue to recommend the ceiling rates under the RoDTEP Scheme for different export sectors.


Remission of Duties and Taxes on Exported Products (RoDTEP)

  • About: It is a scheme for Exporters to make Indian products cost-competitive and create a level playing field for them in the Global Market.
  • Implementation: 1st January 2021
  • Objective: This is an export duty remission program designed to stimulate the export of goods that had historically shown limited export activity.
  • Replaced: MEIS (Merchandise Exports from India Scheme)
  • The RoDTEP scheme grants refunds for the previously unreimbursed Central, State, and local duties/taxes to exporters.
  • These refunds are provided in the form of transferable electronic scrips, and the entire process is managed by the Central Board of Indirect Taxes & Customs (CBIC) within a comprehensive IT system.
Samadhaan