To : Members of the Council
Sub : Remission of Duties and Taxes on Exported Products (RoDTEP) Scheme gets implemented from 1st January, 2021
As we begin the New Year 2021 with a great start, we are happy to inform you that the much-awaited Scheme “Remission of Duties and Taxes on Exported Products (RoDTEP)” gets implemented from 1st January, 2021. The Ministry of Finance has issued a Press Release dated 31st December 2020 in this regard.
To boost exports, the Government has decided to extend the benefit of the Scheme for Remission of Duties and Taxes on Exported Products (RoDTEP) to all export goods.
Objective of the RoDTEP Scheme
The RoDTEP rates would be notified shortly by the Department of Commerce, based on the recommendation of a Committee chaired by Dr. G.K. Pillai, former Commerce and Home Secretary. The final Report of the Committee is expected shortly.
Please make a note of the following –
1) An exporter desirous of availing the benefit of the RoDTEP scheme shall be required to declare his intention for each export item in the shipping bill or bill of export.
2) The RoDTEP shall be allowed, subject to specified conditions and exclusions.
3) The notified rates, irrespective of the date of notification, shall apply with effect from 1st January, 2021 to all eligible exports of goods.
The new RoDTEP rates would be sent to you shortly as soon as it is announced.
Members may make a note of the above.
THE COUNCIL WISHES YOU “A VERY HAPPY AND PROSPEROUS NEW YEAR 2021 & MAY YOUR EXPORTS GROW STRONGER EACH DAY DURING THIS YEAR.