{"id":126983,"date":"2021-08-18T18:00:26","date_gmt":"2021-08-18T12:30:26","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=126983"},"modified":"2021-08-19T18:38:25","modified_gmt":"2021-08-19T13:08:25","slug":"govt-notifies-rodtep-rates-guidelines","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/govt-notifies-rodtep-rates-guidelines\/","title":{"rendered":"Govt notifies RoDTEP rates, guidelines"},"content":{"rendered":"<p><b>Source: <\/b><strong><a href=\"https:\/\/epaper.livemint.com\/Home\/MShareArticle?OrgId=1884e3acc82&amp;imageview=0\" target=\"_blank\" rel=\"noopener\">Livemint<\/a> and <a href=\"https:\/\/epaper.thehindu.com\/Home\/ShareArticle?OrgId=GG38STIRE.1&amp;imageview=0\" target=\"_blank\" rel=\"noopener\">The Hindu<\/a><\/strong><\/p>\n<h5><b>What is the News?<\/b><\/h5>\n<p><span style=\"font-weight: 400;\">The government of India has <\/span><span style=\"font-weight: 400;\">notified the rates and norms for the Remission of Duties and Taxes on Exported Products (RoDTEP) scheme.<\/span><\/p>\n<h5><b>About RoDTEP Scheme:<\/b><\/h5>\n<ol>\n<li><b>Launched by: <\/b><span style=\"font-weight: 400;\">Ministry of Commerce &amp; Industry\u00a0<\/span><\/li>\n<li><b>Which scheme is it replacing?<\/b><span style=\"font-weight: 400;\"> The RoDTEP scheme is replacing the earlier Merchandise and Services Export Incentive Schemes (MEIS and SEIS) that were in violation of WTO norms.<\/span><\/li>\n<li><b>Aim:<\/b><span style=\"font-weight: 400;\"> To <\/span><span style=\"font-weight: 400;\">reimburse all the taxes\/duties\/levies being charged at the Central\/State\/Local level which are not currently refunded under any of the existing schemes but are incurred at the manufacturing and distribution process.<\/span>\n<ul>\n<li style=\"font-weight: 400;\"><b>The refund under the <\/b><b>scheme <\/b><span style=\"font-weight: 400;\">shall not be available in respect of duties and taxes already exempted or remitted or credited.<\/span><\/li>\n<\/ul>\n<\/li>\n<li><b>Implementation<\/b><span style=\"font-weight: 400;\">: The refund under the scheme will be credited in an exporter\u2019s ledger account with the customs. It will be used to pay basic duty on imported goods. The credits can also be transferred to other importers.<\/span><\/li>\n<\/ol>\n<h5><b>Key Features of the Scheme:<\/b><\/h5>\n<ol>\n<li style=\"font-weight: 400;\"><b>Coverage:<\/b><span style=\"font-weight: 400;\"> The scheme covers over 8,555 tariff products, accounting for about 75% of traded items and 65% of India\u2019s exports.<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Rates:<\/b><span style=\"font-weight: 400;\"> The tax refund rates will vary between 0.5% and 4.3% of the export value of goods. <\/span>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The lowest rate is offered on items like chocolates, toffees and sugar confectionery<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Yarns and fibres have been granted the highest rate.<\/span><\/li>\n<\/ul>\n<\/li>\n<li style=\"font-weight: 400;\"><b>Sectors Included<\/b><span style=\"font-weight: 400;\">: The scheme covers sectors such as marine, agriculture, leather, gems and jewellery automobile, plastics, textiles, electronics among others.<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Sectors Excluded<\/b><span style=\"font-weight: 400;\">: Pharmaceutical, steel and chemicals have been kept out of the purview of the scheme. Products manufactured at export-oriented units and special economic zones have also been excluded from the scheme for the time being.<\/span><\/li>\n<\/ol>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Source: Livemint and The Hindu What is the News? The government of India has notified the rates and norms for the Remission of Duties and Taxes on Exported Products (RoDTEP) scheme. About RoDTEP Scheme: Launched by: Ministry of Commerce &amp; Industry\u00a0 Which scheme is it replacing? The RoDTEP scheme is replacing the earlier Merchandise and&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/govt-notifies-rodtep-rates-guidelines\/\">Continue reading <span class=\"screen-reader-text\">Govt notifies RoDTEP rates, guidelines<\/span><\/a><\/p>\n","protected":false},"author":10317,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1566,956,9,959],"tags":[8671,8783,9132,4057],"class_list":["post-126983","post","type-post","status-publish","format-standard","hentry","category-daily-factly-articles","category-schemes-and-programs","category-public","category-schemes","tag-changes-in-industrial-policy","tag-international-trade","tag-remission-of-duties-and-taxes-on-exported-products-scheme","tag-rodtep-scheme","entry"],"jetpack_featured_media_url":"","views":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/126983","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10317"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=126983"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/126983\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=126983"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=126983"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=126983"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}