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Textiles Ministry seeks details on reimbursement rates under RoDTEP

  

The Textiles Ministry has sought details from the Commerce Ministry on the rate of reimbursement they will be entitled to under the new Remission of Duties and Taxes on Export Products (RoDTEP) scheme. The Commerce Ministry announced new scheme, RoDTEP, from January 1, 2021 to compensate exporters for input taxes not reimbursed under existing schemes.

It also withdrew the Merchandise Export from India Scheme (MEIS) scheme as it was ruled as a banned export subsidy by a WTO panel since the reimbursement rates were not calculated strictly on the basis of input taxes paid. As the outlay for RoDTEP is set to be much lower than the over 50,000 crore allocated for the MEIS, there are expected to be cuts in reimbursement rates.

Earlier, garments and made-ups exporters believed reimbursement rates that were fixed at around 6 per cent of the value of exports of garments and around 8 per cent for made-ups would remain the same under RoDTEP. However, now they are not sure.

 
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