New Delhi: The Finance Ministry and Department of Revenue have have an important announcement
regarding the implementation of Remission of Duties and Taxes on Exported Products (RoDTEP) from January 1, 2021.
In an official statement, they stated that the following shall be notified/made public shortly:
(i) The details of export goods (tariff lines) eligible for RoDTEP scheme
(ii) The applicable RoDTEP rate, value caps (wherever applicable) on such eligible goods/tariff lines
(iii) The excluded category of exports
(iv) Other conditions and restrictions
(v) The procedural details for grant of RoDTEPduty credit, and utilisation thereof.
The benefit of RoDTEP would be available subject to the conditions, restriction, exclusions, ineligibility and fulfilment of the procedural requirements as notified.
On exports, eligible for RoDTEP, as per the Scheme details, the RoDTEP benefit shall be available from 1st January, 2021, even if the rates and other details are prescribed later, within next few days.