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RODTEP EXTENSION WILL COMBAT GLOBAL SNAGS

The Business Guardian

|

March 10, 2024

The extension of the remission of duties and taxes on exported products (RODTEP) scheme to include exports from special economic zones (SEZs) and export-oriented units (EOUs) coming amidst global economic uncertainties and supply chain disruptions, will help uncovered sectors such as advance authorisation (which allows duty-free imports of inputs for export production) EOU, and SEZ to weather international headwinds.

RODTEP EXTENSION WILL COMBAT GLOBAL SNAGS

The incentives is in recognition of the significant contribution these sectors make to India’s exports and will also support additional export sectors constituting approximately 25 per cent of India’s exports.

The RoDTEP scheme aimed at refunding various embedded taxes and duties on exported products, has since inception in January 2021, already provided support amounting to ₹42,000 crore to more than 10,500 export items at 8-digit ITC HS Code level. In the current financial year, the scheme has a budget of ₹15,070 Crore with an additional increase of 10 per cent in FY 2024-25. Keeping budgetary allocation in view, the extension of RODTEP to additional sectors is presently till 30 September, 2024.

MEER VERHALEN VAN The Business Guardian

The Business Guardian

The Business Guardian

DIAMETRICALLY OPPOSITE POLARITIES: EMBRACING LIFE'S DUAL NATURE

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1 mins

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The Business Guardian

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Gold could retest record highs as traders eye Powell's speech, RBI policy: Analysts

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2 mins

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The Business Guardian

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4 mins

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1 min

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2 mins

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International Conference on the Preservation of Rural Buddhist Heritage Charts

The International Conference on the Preservation of Rural Buddhist Heritage, organized by the Indian Trust for Rural Heritage and Development (ITRHD), concluded today at the Dr. Ambedkar International Centre (DAIC), New Delhi, with the adoption of the Delhi Declaration—a landmark roadmap for safeguarding and revitalizing India’s rural Buddhist heritage.

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1 min

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The Business Guardian

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'FY26 GDP growth revised to 7.6%, MSME credit set to cross Rs 6 lakh cr'

India's economy expanded 8.2 per cent in Q2 FY26, the highest in six quarters, backed by strong growth in manufacturing, construction, and services, according to the latest SBI Research Ecowrap report.

time to read

2 mins

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