Central Idea

In light of a continuous seven-month decline in goods exports until August, the government has taken action to bolster outbound shipments.
The Remission of Duties and Taxes on Exported Products (RoDTEP) scheme’s applicability has been extended for nine more months, now in effect until June 30, 2024.

About RoDTEP Scheme

Objective	To refund central, state, and local duties or taxes on exported products. The rebate does not apply to duties and taxes that have already been exempted, remitted, or credited.
Launch Date	Introduced in January 2021. Replacement for the Merchandise Export Scheme, which was deemed non-compliant with WTO Rules.
Rates of Tax Refund	Tax refund rates under RoDTEP vary from 0.5% to 4.3% across different sectors.
Claim Process	Exporters can claim the rebate as a percentage of the Freight On Board (FOB) value of their exports.
Issuance of Rebates	Rebates are issued in the form of transferable duty credits or electronic scrips (e-scrips).
Significance of the Scheme	Enhances the competitiveness of Indian products in global markets by refunding various taxes. Expected to have a substantial impact on India’s trade volumes, export figures, and competitiveness. Enables Indian exporters to meet international export standards and access GST refunds efficiently.