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RoDTEP Scheme

RoDTEP Scheme: Get Remission of Duties or Taxes on Export

Refunds on taxes and tariffs not covered by other means are part of the Government of India's important Remission of Duties and Taxes on Exported Products (RoDTEP) initiative, which was launched to increase exports.

Set to conform with World Trade Organization (WTO) requirements, this system took effect on January 1, 2021, replacing the Merchandise Exports from India system (MEIS). The input product encompasses a range of taxes, including state and federal levies such as electricity duties, coal cess, mandi tax, and value-added tax (VAT) on petrol and diesel that were not originally reimbursed. By successfully lowering exporters' production costs, the goal is to increase the competitiveness of Indian goods on the international market.

Key Features of RoDTEP Scheme

  • Tax Remission scheme.
  • The scheme offers varying incentive rates across for goods exported under different chapter headings.
  • Compliance with International Standards.
  • The scheme emphasizes a digital and streamlined process for claiming incentives, making it more accessible and efficient for exporters.

What is Interlink Capital's Role in Maximizing Benefits from the RoDTEP Scheme?

Interlink Capital, a leading financial advisory firm, specializes in providing strategic solutions to businesses aiming to leverage government schemes for export enhancement.

Our expertise in the RoDTEP scheme can be invaluable for exporters looking to navigate the complexities of tax refunds efficiently. Here’s how Interlink Capital can assist businesses:

  • We help in identifying whether your business and the products you export are eligible under the RoDTEP scheme, ensuring that you don't miss out on potential export incentives.
  • Documentation and Compliance.
  • From initial consultation to receiving the incentive, we provide comprehensive support, including addressing queries related to the scheme and resolving any issues that may arise during the process.
  • Given the potential for policy changes and updates in the RoDTEP scheme, we ensure that businesses stay informed about the latest developments, enabling them to make timely and beneficial decisions.

The RoDTEP scheme presents a significant opportunity for Indian exporters to enhance their competitiveness on the global stage. Our specialized services in navigating the complexities of this scheme can play a crucial role in ensuring that businesses not only comply with the requirements but also maximize their benefits under the scheme. By partnering with Interlink Capital, exporters can effectively reduce their operational costs, boost their exports, and contribute to the broader goal of making Indian products globally competitive.

Frequently Asked questions [FAQs]:

⭐ How does the RoDTEP Scheme work?

Under RoDTEP, exporters are eligible for incentive for taxes and duties paid on inputs and input services used in the production of exported goods. These include central and state taxes such as VAT, fuel tax, and electricity duties, which are not refunded by any other means. The scheme operates through a digital scrip system, where duty scrips are granted and can be used to pay customs duties on imports or can be trade.

⭐ What products are covered under the RoDTEP Scheme?

The RoDTEP Scheme covers a wide range of products, which are classified under specific tariff codes. The government periodically updates the list of eligible products and the rates at which incentives are provided. It's important for exporters to check the latest notifications for accurate information.

⭐ What services does Interlink Capital offer regarding the RoDTEP Scheme?

Interlink Capital provides comprehensive services related to the RoDTEP Scheme, including:

  • Making application and assisting in getting the duty scrip under RoDTEP
  • Advising on how to maximize the benefits under the RoDTEP scheme.
  • Representing businesses in front of relevant authorities for claims or disputes related to RoDTEP.
  • Providing insights and analysis on how the RoDTEP scheme impacts specific industries and markets.