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The Central Government has amended Foreign Trade Policy 2015-20 (FTP) for introducing a Scheme for Remission of Duties and Taxes on Exported Products (RoDTEP). The scheme for zero-rating of exports will boost India’s exports & competitiveness in the global markets.
A sub-para (e) is inserted in para 4.01 of the Foreign Trade Policy 2015-20 as below:
“(e) Scheme for Remission of Duties and Taxes on Exported Products (RoDTEP) notified by the Department of Commerce and administered by the Department of Revenue.
It may be noted that Government is leaving no stone unturned to support domestic industry and make it more competitive in the international markets. Export-centric industries are being reformed and introduced to better mechanisms so as to increase their competitiveness, boost exports, generate employment and contribute to the overall economy.
Remission of Duties and Taxes on Exported Products (RoDTEP) is one such reform, based on the globally accepted principle that taxes and duties should not be exported, and taxes and levies borne on the exported products should be either exempted or remitted to exporters.
Identified export sectors and rates under RoDTEP cover 8555 tariff lines in addition to similar support being extended to apparel and made-ups exports under the RoSCTL scheme of the Ministry of Textiles.
Employment Oriented Sectors like Marine, Agriculture, Leather, Gems & Jewellery, etc. are covered under the Scheme. Other sectors like Automobiles, Plastics, Electrical / Electronics, Machinery, etc. also get support. The entire valve chain of textiles also gets covered through RoDTEP & RoSCTL
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