Q. With reference to the Remission of Duties and Taxes on Exported Products (RoDTEP) scheme, consider the following statements:
1.This scheme is designed to reimburse exporters for embedded duties, taxes, and levies that are not otherwise refunded under any other existing scheme.
2.It is compliant with World Trade Organization (WTO) norms.
3.The Ministry of Textile is the nodal ministry of this scheme.
How many of the above statements are correct?
Answer: B
Notes:
Explanation: Statements 1 and 2 are correct
Statement 1 is correct: Operational since 1st January 2021, the RoDTEP scheme is designed to reimburse exporters for embedded duties, taxes, and levies that are not otherwise refunded under any other existing scheme.
Statement 2 is correct: It is compliant with World Trade Organization (WTO) norms and is implemented via a comprehensive end-to-end digital platform to ensure transparency and efficiency.
Statement 3 is incorrect: The Ministry of Commerce & Industry is the nodal ministry for this scheme.
Source: PIB
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