RoDTEP Scheme: A senior government official stated that the government intends to assist the industry in familiarising itself with the paperwork needed for the Remission of Duties or Taxes on Export Products (RoDTEP) programme.
Boosting Export Finances
For exporters, there is a tax and tariff refund programme called the RoDTEP. Refunding tariffs and taxes paid on exported goods is intended to promote exports and boost the economy. All product exporters who have registered with the customs department are eligible to participate in the programme.
The WTO-incompatible MEIS system was superseded by the RoDTEP scheme, which was launched in January 2021. Under the RoDTEP scheme, the highest rate of remission is 4%. Thus, the maximum refund that exporters are eligible for is 4% of the value of the items they are exporting.
Essential Document for RoDTEP Scheme Application
The following paperwork is needed in order to apply for the RoDTEP scheme:
- Shipping bills
- Electronic Bank Realisation Certificate (eBRC)
- DSC – Class 3
- Registration Cum Membership Certificate (RCMC)
The RoDTEP programme is run by the Department of Revenue (DoR). The remission amount is given out as transferable duty credit electronic scrip, which is kept up to date in the Customs system’s electronic ledger.
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