Trade - #SectorUpdates
The Union Government, in a relief to the exporters, has extended the validity of the e-scrips issued under the Remissions of Duties and Taxes on Exported Products (RoDTEP) scheme. The scheme aims to refund exporters duties and taxes paid during manufacturing. It came into effect in August 2021 and covers 8555 tariff lines. The move is likely to help the exporters to boost exports. The extension of the validity of scrips will help avoid distress sale for the scrips issued. With the change, the exporters can use these for over a 2 year period, thus allowing it to avail a better rate for the scrips. RoDTEP was brought in to replace Merchandise Exports from India scheme (MEIS).