RoDTEP stands for Remission of Duties and Taxes on Export Products. It is a new scheme this is applicable with impact from January 1st, 2021, formed to replace the existing MEIS (Merchandise Exports from India Scheme). The scheme will make sure that the exporters get hold of the refunds at the embedded taxes and responsibilities formerly non-recoverable. The scheme turned into introduced approximately a good way to increase exports which have been extraordinarily terrible in quantity formerly. The RoDTEP rates would be notified shortly by the Department of Commerce.
The US had challenged India’s key export subsidy schemes in the WTO (World Trade Organisation), claiming them to damage the American workers. A dispute panel in the WTO dominated towards India, stating that the export subsidy programmes that have been furnished by the Government of India violated the provisions of the trade body’s norms.
The panel similarly endorsed that the export subsidy programmes be withdrawn. This caused the start of the RoDTEP Scheme, if you want to make sure that India remains WTO-compliant.
The following have been a number of the export subsidy programmes endorsed to be withdrawn: -
The ICEGATE portal (Indian Customs Electronic Gateway) will comprise the details concerning the credit availed by the exporter. At the port, the exporter must suggest in the delivery invoice the details concerning the declare of the RoDTEP benefit with reference to a specific item of export and generate a credit score scrip for it. These credit score scrips are then used to pay simple customs responsibilities, declare rebates or may be transferred to different importers, because the case may be.
The procedure for the era and claiming of scrips below the RoDTEP scheme are as follows-
Currently, the charge of responsibility of remission for the goods under RoDTEP scheme isn't yet notified by the Government of India.
Our highly qualified team is constantly updating themselves with the Foreign Trade Policies so that we can give a wholesome advice to our clients regarding their concerns and guide them from document preparation to obtaining the Licence in hand. Our Team will Guide you through the Process of RoDTEP Scheme.