The Ministry of Commerce & Industry (MoCI) on March 08, 2024, issued a notification regarding the extension of the Remission of Duties and Taxes on Exported Products support to Advance Authorisation Holders, Export Oriented Units, and Special Economic Zones Units.
The following has been stated: -
•The extension of the Remission of Duties and Taxes on Exported Products (RoDTEP) Scheme support to additional export sectors has been announced.
•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.
•Keeping budgetary allocation in view, the extension of RODTEP to additional sectors is present till September 30, 2024.
•Key sectors such as Engineering, Textiles, Chemicals, Pharmaceuticals & Food Processing, and many others stand to benefit from the measure.
•The government is confident that the proactive measures being taken, including efforts to negotiate new FTAs, will further accelerate India’s journey towards achieving USD One trillion merchandise export levels.
[Release ID: 2012779]
