RoDTEP
The government’s export promotion exemption from duties and taxes on exported products (RoDTEP) which was scheduled to expire on September 30 this year, will now continue till June 30, 2024. Under this scheme, the government refunds various customs duties and taxes levied on production to exporters. The Government has re-established the Roadtape Program Committee.
New Delhi, JNN: The Remission of Duties and Tax on Export Products (RoDTEP) scheme given by the government for export promotion will now continue till June 30, 2024, which was ending on September 30 this year.
Government refunds the duty imposed on exports
Under this scheme, the government refunds various types of duties and taxes levied during the manufacturing of exported items to the exporters.
This reduces the costs of exporters thereby increasing their competitiveness in the global market. Roadtape scheme is being implemented from the year 2021.
Government re-constituted Roadtape Scheme Committee
On the other hand, the government has re-constituted the committee related to the Roadtape Scheme. The committee will consider what else can be done under this scheme for export promotion and what mechanism should be adopted for its implementation.
The committee formed under the Revenue Department has also held meetings with various export promotion councils and industrial organizations. An allocation of Rs 15,070 crore was made under the Roadtape Scheme in the budget for the current financial year 2023-24. There is a continuous decline in exports in the current financial year. In such a situation, the Roadmap Scheme becomes more important.
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