RoDTEP announcement likely in 2 weeks: DGFT

Director General of Foreign Trade Amit Yadav on Friday said that an announcement on the Remission of Duties and Taxes on Exported Products (RoDTEP) scheme is likely in the next two weeks even as the government tries to chalk a mechanism to pay the pending claims under the erstwhile Merchandise Exports from India Scheme (MEIS).

“In the two weeks, we will have an announcement on RoDTEP. We are trying on how to get the base of RoDTEP enlarged. There is an impact budgetary side be it collections or expenditure. There is stress on expenditure and demand and challenges on revenue,” he said at a virtual event organised by the PHD Chamber of Commerce and Industry.

The scheme, which replaced the MEIS, is yet to be implemented because of the absence of rate of benefits. The refund rates for various product categories are yet to be finalised by the finance ministry and commerce ministry.