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Centre notifies RoDTEP Scheme Guidelines & Rates
Piyush Goyal (RoDTEP Scheme Guidelines & Rates)
Union Government on Tuesday, August 17, 2021, notified Remission of Duties and Taxes on Exported Products- RoDTEP Scheme Guidelines and Rates.
Union Government on Tuesday, August 17, 2021, notified Remission of Duties and Taxes on Exported Products- RoDTEP Scheme Guidelines and Rates. Ministry of Commerce and Industry in a statement said that the scheme for zero-rating of exports will boost the country's exports and competitiveness in the global markets.
The rates of RoDTEP will cover 8555 tariff lines.
Piyush Goyal in a tweet said, "Government notifies RoDTEP Scheme Guidelines & Rates for boosting exports by creating a level playing field for exporters leading to greater competitiveness & increased employment generation. Will enable "zero-rating" of exports for building an "Aatmanirbhar Bharat".
The Ministry said 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 to increase their competitiveness, boost exports, generate employment and contribute to the overall economy.
This will go a long way in achieving our vision of building an Aatmanirbhar Bharat.
It said, RoDTEP scheme is one such reform, based on the globally accepted principle that taxes and duties should not be exported, and taxes and levies are borne on the exported products should be either exempted or remitted to exporters.
