• The government has extended export benefits under the RoDTEP scheme for one more year till June 2024, according to an official release.

ABOUT THE SCHEME FOR REMISSION OF DUTIES AND TAXES ON EXPORTED PRODUCTS (RODTEP)

• The RoDTEP Scheme was introduced by the Government as a duty remission scheme on exports and is being implemented from 1st January 2021.
• The Scheme provides a mechanism for reimbursement of taxes, duties and levies, which are currently not being refunded under any other mechanism, at the central, state and local level, but which are incurred by the export entities in the process of manufacture and distribution of exported products.
• The incentive is paid in the form of transferable duty credit scrip which can be used to pay import duties or sold in the market by exporters.
• It has been extended till 30th June 2024.
• This scheme is a replacement for the Merchandise Exports from India Scheme which ended last year.
• It is a WTO-compliant scheme and follows the global principle that taxes/duties should not be exported.
• At present, over 10,342 export items get the RoDTEP benefits.