Ministry of Finance has issued a Press Note to inform that “Remission of Duties and Taxes on Exported Products (RoDTEP)” Scheme has been implemented from 1st day of January, 2021 onwards.
Key Points of the Press Note are:
1. It has been provided that all the Central, State and local duties/taxes which were outside the preview of GST and were so far not being rebated/refunded, would be reimbursed under this scheme. The refund would be credited and used to pay basic custom duty on imported goods. The credits can also be transferred to other importers.
2. An exporter desirous of availing 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. The RoDTEP shall be allowed, subject to specified conditions and exclusions. The notified rates, irrespective of the date of notification, shall apply with effect from 1st day of January, 2021 to all eligible exports of goods.
For further details please refer the attached document.
Source : Press Information Bureau
