Government notified to extend RoDTEP scheme

Union Minister of Commerce & Industry, Consumer Affairs, Food and Public Distribution, and Textiles, Shri Piyush Goyal announced the extension of the Remission of Duties and Taxes on Exported Products (RoDTEP) Scheme support to additional export sectors in New Delhi. 

The Government of India has announced an extension of the RoDTEP Scheme support to additional export sectors i.e. Advance Authorisation (AA) holders, Export Oriented Units (EOU), and Special Economic Zones (SEZ) export units. This decision comes in recognition of the significant contribution these sectors make to India’s Exports, constituting approximately 25% of our exports.

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The Remission of Duties and Taxes on Exported Products (RoDTEP) Scheme is a key initiative by the Government of India aimed at refunding various embedded taxes and duties on exported products. Since its inception in January 2021, the RoDTEP Scheme has already provided support amounting to Rs 42,000 Crores to more than 10,500 export items at the 8-digit ITC HS Code level. In the current financial year, the scheme has a budget of Rs 15,070 Crore with an additional increase of 10% in FY 2024-25.

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As per the budgetary allocation, the extension of RODTEP to additional sectors is presently till 30.09.2024. The extension of the RODTEP scheme to these sectors is aimed at enhancing India’s export competitiveness in international markets. Key sectors such as Engineering, Textiles, Chemicals, Pharmaceuticals & Food Processing, and many others stand to benefit from the measure.

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