Cabinet approves“Remission of Duties and Taxes on Exported Products (RoDTEP)” Scheme |ForumIAS

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News:Union Cabinet has given its approval for introducing the Scheme for Remission of Duties and Taxes on Exported Products(RoDTEP).

Facts:

About the Scheme:

Aim:To reimburse taxes and duties paid by exporters such as value added tax, coal cess, transportation cost among others which are not getting exempted or refunded under any other existing mechanism.
It will replace the Merchandise Export from India Scheme (MEIS) that was found to violate the World Trade Organization rules as it was export focused.

Additional information:

About Merchandise Exports From India Scheme(MEIS):

MEIS was introduced in the Foreign Trade Policy (FTP) 2015-20.
Objective:To offset infrastructural inefficiencies and associated costs involved in exporting goods which are manufactured in India including products manufactured by the MSME Sector.