New Delhi: Nearly eight months after its implementation, the government on Tuesday announced rates under exemption of duties and taxes on export products.RoDTEP) scheme, promising to find resolution of dues under two defunct schemes for goods and services exporters.
This year, RoDTEP, which is meant to refund taxes paid by exporters on inputs and services, will cover over 8,500 products or tariff lines, with an estimated amount of Rs 12,454 crore.
A provision of another Rs 7,000 crore has been made for this. state exemption And central tax and levies (ROSCTL), which was notified last week. Commerce Secretary BVR Subrahmanyam said Rs 19,400 crore would be available for both the schemes during the next financial year.
“Today, we have notified the rates. RoDTEP is going to be a long lasting scheme and it is going to be a flagship scheme Ministry of Commerce. it is also in line with in that,” Subrahmanyam told reporters.
The plans will cover 95% of the overall tariff lines or goods and exports, with refunds ranging between 0.5% and 4.3%. The exemption under the Scheme shall not be available in respect of fees and taxes already exempted or deposited or deposited.
On the issue of the earlier two schemes – from Merchandise Exports India Scheme and Service Exports India is negotiating with the Commerce Department from plans – which were inconsistent with global trade rules Finance Ministry to settle the arrears.
“It is a huge amount…we are working closely with the finance (ministry). Give us 15 days,” said the secretary.
This year, RoDTEP, which is meant to refund taxes paid by exporters on inputs and services, will cover over 8,500 products or tariff lines, with an estimated amount of Rs 12,454 crore.
A provision of another Rs 7,000 crore has been made for this. state exemption And central tax and levies (ROSCTL), which was notified last week. Commerce Secretary BVR Subrahmanyam said Rs 19,400 crore would be available for both the schemes during the next financial year.
“Today, we have notified the rates. RoDTEP is going to be a long lasting scheme and it is going to be a flagship scheme Ministry of Commerce. it is also in line with in that,” Subrahmanyam told reporters.
The plans will cover 95% of the overall tariff lines or goods and exports, with refunds ranging between 0.5% and 4.3%. The exemption under the Scheme shall not be available in respect of fees and taxes already exempted or deposited or deposited.
On the issue of the earlier two schemes – from Merchandise Exports India Scheme and Service Exports India is negotiating with the Commerce Department from plans – which were inconsistent with global trade rules Finance Ministry to settle the arrears.
“It is a huge amount…we are working closely with the finance (ministry). Give us 15 days,” said the secretary.
.