Sign In
Learn bits
Economy, Schemes & Policies
Admin

01/01/21 10:20 AM IST

Remission of Duties and Taxes on Exported Products

In news

Taking a major step to boost exports, Government has decided to extend the benefit of  the Scheme for Remission of Duties and Taxes on Exported Products (RoDTEP) to all export goods with effect from 1st January, 2021.

Remission of Duties and Taxes on Exported Products (RoDTEP) Scheme
  • The Remission of DutiesandTaxes on Exported Products(RoDTEP) scheme was announced by Government of India (GOI) on 14 September 2019
  • It was announced to boostexportsby allowing reimbursement oftaxesandduties, which are not exempted or refunded under any other scheme in accordance with World Trade Organization (WTO) norms.

Objective of the RoDTEP Scheme

  • Refund to exporters the embedded Central, State and local duties/taxes that were so far not being rebated/refunded and were, therefore, placing our exports at a disadvantage. 
  • Refund would be credited in an exporter’s ledger account with Customs and used to pay Basic Customs duty on imported goods. The credits can also be transferred to other importers.

Source: PIB

More Related Current Affairs View All

13 Aug

Working of satellite internet

'Satellite internet is revolutionizing how we connect, extending high-speed access to virtually every corner of the globe, regardless of location.' Imagine getting online from t

Read More

13 Aug

CBSE’s plan for open-book exams

'The Central Board of Secondary Education (CBSE) has officially approved the introduction of Open-Book Assessments (OBAs) for Class 9 students starting from the 2026-27 academic se

Read More

12 Aug

Stray dog problem

'The Supreme Court  directed the Delhi government, civic bodies, and authorities of Noida, Gurgaon, and Ghaziabad to round up and move stray dogs to shelters, underlining the

Read More

India’s First Ai-Driven Magazine Generator

Generate Your Custom Current Affairs Magazine using our AI in just 3 steps