RoDTEP Scheme Extended to Chemicals,
Pharmaceuticals and Articles of Iron & Steel w.e.f. 15 Dec 2022
·
New
Rates Valid till 30 Sept 2023
·
Commerce
Shore Up Incentives to Boost Flagging Exports
·
Outlay
Estimated at Rs. 1000 Crs
·
The expanded list of eligible export
items under Appendix 4R will increase from current 8,731 export items (8 digit tariff lines) to 10,342 export items (8 digit tariff
lines)
·
New Rates (Beginning from Sl.No. 8732 to Sl.No. 10436)
·
Chapter 28 – 0.80%
·
Chapter 29 – 0.80%- 2.00%
·
Chapter 30 – 0.80%-1.70%
·
Chapter 73 – 0.50%-1.6%
Taking a major step to
boost exports, Centre today further expanded the scope of RoDTEP
Scheme (Remission of Duties and Taxes on Exported Products) by including the exports
made from the Chemical sector, Pharmaceuticals sector and
exports of articles of iron & steel under chapters 28, 29, 30 and 73 of ITC(HS)
schedule of items.
The expanded list of items
will be applicable for exports made from 15th December, 2022. This was a long-standing
demand of the industry which has been accepted and will go a long way in boosting
our exports and competitiveness in the global markets, generate employment and contribute
to the overall economy. The expanded list of eligible export items under Appendix
4R will increase from current 8,731 export items (8 digit
tariff lines) to 10,342 export items (8 digit tariff lines).
RoDTEP is based
on the globally accepted principle that taxes and duties should not be exported,
and taxes and levies borne on the exported products should be either exempted or
remitted to exporters. The RoDTEP scheme rebates/refunds
the embedded Central, State and local duties/taxes to the exporters that were so
far not being rebated/refunded. The scheme is being implemented from 1st January
2021 and the rebate is issued as a transferable electronic scrip by the Central
Board of Indirect Taxes & Customs (CBIC) in an end to end
IT environment.
It may be noted that Government
is leaving no stone unturned to support domestic industry and make it more competitive
in the international markets. Export centric industries are being reformed and introduced
to better mechanisms so as to increase their competitiveness, boost exports, generate
employment and contribute to the overall economy. This will go a long way in achieving
our vision of building an Aatmanirbhar Bharat.
In the present times,
when exports are facing headwinds on account of signs of recession in some of the
developed markets & supply chain disruptions on account of Russia-Ukraine conflict,
extension of RoDTEP to uncovered sectors like Chemicals,
Pharmaceuticals & Articles of Iron & Steel is likely to enhance the export
competitiveness of these sectors.
[DGFT Notification No: 47/2015-2020
dated 7 December 2022]
Effect
of this Notification: Additional export sectors/items in
Chapter 28, 29, 30 & 73 are being added in Appendix 4R under RoDTEP for exports made from 15.12.2022 and shall be
applicable till 30.09.2023.
Subject: Inclusion of additional export items
in Appendix 4R with effect from 15.12.2022
S.O.(E): In exercise of
the powers conferred by Section 5 of the Foreign Trade (Development and Regulation)
Act, 1992 read with Para 1.02 of the Foreign Trade Policy 2015-20, the Central Government
hereby notifies a revised Appendix 4R under Para 4.59 of Foreign Trade Policy, 2015-20
for exports made from 15.12.2022.
2. The revised Appendix
4R will be applicable for exports made from 15.12.2022 to 30.09.2023. To adhere
to the Scheme budgetary framework, necessary changes and revisions as per Para 4.54
of FTP 2015-20 (as amended from time to time) will be made thereafter.
3. The revised RoDTEP Appendix 4R containing the eligible RoDTEP export items, rates and per unit value caps, wherever
applicable is available at the DGFT portal www.dgft.gov.in under
the link 'Regulatory Updates >RoDTEP'.
[Issued from File No. 011611180/155/AM21/PC3]