Government Provides Big Boost to Exporters
Rs. 56,027 crore is going to be released under various Export Promotion Schemes Benefits would be disbursed to more than 45,000 exporters, out of which about 98% are small exporters in the MSME category. Centre has provided a massive relief to the exporters. This amount is over and above duty remission of Rs 12,454 crore […]
Rates Notified for RoDTEP effective from 1st January 2021 (Remission of Duties and Taxes on Exported Products)
SYNOPSIS: The government is betting on the scheme, a long time in the coming to make India’s exports more competitive in the global arena. The tax refund rates revealed by the Commerce Department show that exporters will be given tax refunds in the range of 0.5-4.3 percent. ABOUT THE NOTIFICATION: According to the statement, export-centric industries […]
Issuance of Benefits/Scrips under various export promotion schemes kept on HOLD
The Government provides various benefits under various schemes like MEIS, SEIS, ROSL, ROSCTL to exporters of goods and services in the DGFT IT modules. Due to changes in allocation procedure, the Government had put on hold acceptance, processing, and issuance of claims vide trade notice no. 08/2021-22 dated 08th July 2021. Till further notice, no […]
RODTEP Scheme (Remission of duties and Taxes on export products)
About: RoDTEP stands for Remission of Duties and Taxes on Export Products. It is a new scheme that is applicable with effect from January 1st, 2021, formed to replace the existing MEIS Scheme. The scheme will ensure that the exporters receive refunds on the embedded taxes and duties previously non-recoverable. Benefits of RoDTEP Scheme: Refund […]
SEIS (SERVICE EXPORT FROM INDIA SCHEME)
Services to qualify under foreign trade policy: “Service” Includes all tradable services covered under General Agreement on Trade in services and earning free foreign exchange. The general agreement on trade in service defines services in four modes of supply: Cross border Trade, Consumption aboard, commercial presence, and presence of natural persons. Who is a “Service […]