The government in August announced the rates of tax refunds under the export promotion scheme RoDTEP for 8,555 products, such as marine goods, yarn and dairy items. It has set aside Rs 12,454 crore for refunds under the Remission of Duties and Taxes on Exported Products (RoDTEP) scheme for the current fiscal.
SEZs and EOUs were kept out of the scheme in the list notified in August. The industry was demanding to include them in the scheme.
The Directorate General of Foreign Trade (DGFT) in a trade notice has said, “The government has constituted a committee for determination of RoDTEP rates for AA (advance authorisation)/ EOU/ SEZ exports; and to give supplementary report/ recommendations on issues relating to errors or anomalies, with respect to the RoDTEP schedule of rates notified.”
It said members of trade and industry may submit their representations through the export promotion councils, industry associations, to the RoDTEP committee directly.
Under the RoDTEP, various central and state duties, taxes, and levies imposed on input products, among others, will be refunded to exporters.
The three-member committee is chaired by former secretary G K Pillai, former CBEC member Y G Parande and former customs member Gautam Ray.
It will submit its report within eight months.
Stay connected with us on social media platform for instant update click here to join our Twitter, & Facebook
We are now on Telegram. Click here to join our channel (@TechiUpdate) and stay updated with the latest Technology headlines.
For all the latest Business News Click Here
For the latest news and updates, follow us on Google News.