Daily Current Affairs on Govt announces rates for RoDTEP scheme for exporters; to cover 8,555 items for SBI (Clerical) Exam Preparation

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Indian Economy - Understanding the basics of Indian economic system

18-Aug-21

Govt announces rates for RoDTEP scheme for exporters; to cover 8,555 items

Under the RoDTEP, various Central and State duties, taxes, and levies imposed on input products, among others, would be refunded to exporters

To boost exports, the government on Tuesday announced rates of tax refunds under the export promotion scheme RoDTEP for 8,555 products, such as marine goods, yarn, dairy items.
The government has set aside ?12,454 crore for refunds under the Remission of Duties and Taxes on Exported Products (RoDTEP) scheme for the current fiscal, a top official said.
Under the RoDTEP, various Central and State duties, taxes, and levies imposed on input products, among others, would be refunded to exporters.
Commerce Secretary B.V.R. Subrahmanyam said that ?19,400 crore would be available for 2021-22 for both the RoDTEP and the Rebate of State and Central Taxes and Levies (RoSCTL). The RoSCTL scheme was announced for the export of garments and apparels.

By: Neeraj Chauhan

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