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DGFT asks exporters to submit data to RoDTEP Committee for review of RoDTEP rates by November 30
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Shardul Nautiyal, Mumbai
October 25 , 2023
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The Directorate General of Foreign Trade (DGFT) has urged the pharma industry, trade associations and the Pharmaceuticals Export Promotion Council of India (Pharmexcil) for submission of data to Remission of Duties and Taxes on Exported Products (RoDTEP) Committee for review of RoDTEP rates by November 30, 2023.
The RoDTEP Committee has been constituted for review of RoDTEP rates. After consultation with the industry, the Drawback Division has now finalized the formats for submission of data.
“Relevant orders and data formats etc. have been made available in the public domain at Central Board of Indirect Taxes and Customs (CBIC) website (cbic.gov.in) under the link > Taxpayer and Stakeholder Assistance > Public Information > RoDTEP Committee. Exporting community is requested to make use of this opportunity and submit required information well within the laid down timelines with copy in MS Excel format to the email id-rodtep.dbk@gov.in,” said Deepak Jhalani, deputy director, DGFT.
The DGFT has also recently notified extension of the RoDTEP scheme from October 1, 2023 till June 30, 2024. Pharmexcil had earlier also made a representation for extension of the RoDTEP Scheme to the Union commerce ministry and the DGFT.
The RoDTEP scheme was introduced by the government as a duty remission scheme on exports and is being implemented from 1 January 2021. The scheme provides a mechanism for reimbursement of taxes, duties and levies, which are currently not being refunded under any other mechanism, at the central, state and local level, but which are incurred by the export entities in the process of manufacture and distribution of exported products.
The RoDTEP scheme operates under a budgetary framework and for FY 2023-24, a budget of Rs. 15,070 crore is available to support 10,610 HS lines at the 8-digit level. This scheme serves as a substitute for the discontinued Merchandise Exports from India Scheme (MEIS) that concluded last year.
The RoDTEP Committee has again been constituted in the Department of Revenue to review and recommend the ceiling rates under the RoDTEP Scheme. The committee held its first interaction on September 26, 2023 at Vanijya Bhawan in New Delhi with the Export Promotion Councils (EPCs) and Chamber of Commerce and discussed the methodology and other issues relating to the scheme and its implementation," according to the Union commerce ministry.
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