RoDTEP benefits now extended to Pharma, Chemical and Steel Sectors
On 7th December 2022 (Wednesday), the DGFT announced with Notification No 47/2015-2020 extension of RoDTEP benefits to pharmaceutical, chemical and steel sectors. These sectors will be eligible to claim RoDTEP benefits from 15th December 2022.
RoDTEP Scheme was introduced on 1st January 2021 to rebate or refund the embedded central, state and local duties and taxes to the exporters in the form of transferable electronic scrip by the Central Board of Indirect Taxes and Customs.
With this announcement, the DGFT has expanded the scope of the RoDTEP scheme by inclusion of chemical sector, pharmaceuticals sector and exports of articles of iron and steel under chapters 28, 29, 30 and 73 of ITC(HS) schedule of items.
This announcement was a long-standing demand of the steel, pharma and chemical sector that has been accepted and will go a long way in enhancing India’s exports in the global markets, generating employment and contributing to the overall economy.
The new rates are published in Appendix 4R by the DGFT which can be accessed on the DGFT website > ‘Regulatory Updates’ > ‘RoDTEP’.
How can A V International help?
We can not only help you with issuing RoDTEP e-Scrips but also monetize them by outright purchase of the same. Established in 1991, A V International is one the leading and oldest DGFT and Customs Consulting firm operating pan India. We handle RoDTEP incentives for more than 500 cross sector exporters.
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