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RoDTEP Scheme UPSC NOTE

 

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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Learnerz IAS | Concept oriented UPSC Classes in Malayalam: RoDTEP Scheme UPSC NOTE
RoDTEP Scheme UPSC NOTE
Learnerz IAS | Concept oriented UPSC Classes in Malayalam
https://www.learnerz.in/2023/09/rodtep-scheme-upsc-note.html
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