The Indian government has extended the Remission of Duties and Taxes on Export Products (RoDTEP) scheme until June 30, 2024, which was supposed to end on September 30, 2023.
The scheme offers duty and tax remissions for 18 textile export products and the RoDTEP rates on these 18 textile export products will continue to remain the same for the extended nine-month period.
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Since its launch in January 2021, the scheme has disbursed INR 27,018 crore, while for the current fiscal 2023-24, INR 15,070 has been allocated.
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“The extension of RoDTEP is expected to help the exporting community to negotiate export contracts in the present global environment on better terms,” the Ministry of Commerce and Industry said.
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The RoDTEP scheme was introduced as a duty remission scheme on exports and provides reimbursement of taxes, duties, and levies, which are currently not being refunded under any other scheme.
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