DGFT surprises exporters with annual Rodtep returns

The Director General of Foreign Trade (DGFT) has prescribed an annual return to be furnished by exporters who have claimed duty credits of more than ₹1 crore in a financial year under the remission of duties and taxes on export products (Rodtep) scheme.

- T N C RAJAGOPALAN

The exporters are surprised by the kind of details and declaration called for in the annual Rodtep return (ARR) required to be furnished before March 31 of the next year.

The Rodtep scheme, introduced in 2021, intends to rebate duties/taxes/levies, at the Central, State and local level, borne on the exported product, including prior stage cumulative indirect taxes on goods and services used in the production of the exported product and in respect of distribution of exported product, that are not refunded through any other scheme.

Under the scheme, exporters get duty credits at a notified percentage rate of FOB value of exports that can be utilised for payment of basic customs duties on imported goods.