Why in News
Export of goods in a decline phase for seven months in a row till August.
What is RoDTEP Scheme
Full Form Remission of Duties and Taxes on Export Products.
This is a mechanism to reimburse the Duties, Taxes, Levies that are incurred by exporters.
This is applicable to central and state taxes.
It was started in January 2021 as a replacement for the Merchandise Export from India Scheme (MEIS).
The tax refund rates range from 0.5% to 4.3% for various sectors.
The rebate will have to be claimed as a percentage of the Freight On Board value of exports.
Rebates will be issued in the form of a e-scrip which will be maintained in an electronic ledger by the Central Board of Indirect Taxes and Customs (CBIC).
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