The Indian government is expected to announce within the next two weeks the rates of tax refunds against exports under the Remission of Duties and Taxes on Exported Products (RoDTEP) scheme, a government official said on Thursday, May 20.
The Directorate General for Foreign Trade (DGFT) said that it is working with the ministry of finance to finalize the rates of refund and will announce rates for different sectors within the next two weeks.
Last year, the government approved the RoDTEP scheme for reimbursement of taxes and duties to exporters, with a view to giving a boost to the country’s outbound shipments
The rates have to be notified by the Department of Commerce, and will be based on the recommendation of a committee chaired by G K Pillai, former commerce and home secretary.