RoDTEP Full Benefits Restored for Exporters
Why in the news
To help exporters hit by geopolitical disruption in West Asia, the Centre scrapped the earlier 50% limit on RoDTEP rates and caps, bringing back full benefits.
Key facts
- Change: the 50% restriction on rates and caps was withdrawn.
- Goal: export competitiveness.
- RoDTEP refunds taxes and duties that are not otherwise rebated on exported goods, giving a level playing field.
About RoDTEP
| Feature | Detail |
|---|---|
| Coverage | 10,000+ export products, including agriculture, marine, leather, gems and jewellery |
| Form of benefit | Transferable duty credit scrips |
| Record keeping | Electronic ledger maintained by Customs |
| WTO angle | Built on tax remission; consistent with WTO norms |
| Launched | 1 January 2021 |
| Replaced | Merchandise Exports from India Scheme (MEIS) |
| Implemented by | Ministry of Commerce and Industry |
Exam angle
- Scheme: RoDTEP; predecessor: MEIS.
- Benefit form: duty credit scrips; launch: 1 Jan 2021.
- Relevant for UPSC GS-3 (external sector), RBI Grade B, Banking and SSC.