4 Significant Differences between MEIS and the RoDTEP scheme for export and import

4 SIGNIFICANT DIFFERENCES BETWEEN MEIS AND THE RODTEP SCHEME FOR EXPORT AND IMPORT www.dgftguru.com

Introduction to RoDTEP Remission of duties and taxes on export-related goods (RoDTEP) is a Remission Duties and Taxes for export products (RoDTEP) is described as an initiative by the GOI to increase export services which are based on the payment of tax and duty that, in practice are not exempt from or reimbursed in any scheme.

Introduction to MEIS The MEIS is an Incentive Program for Merchandise Export. (MEIS) Its goal was to boost exports via incentive and reward schemes. It is an integral component of India's policy on foreign trade.

Product-to-country and country-to-country were based on the rates at which the rewards were given. This was not a neutralization plan of taxes, instead, it was a plan that offered exporters incentives or incentives to address infrastructural weaknesses and related expenses.

Within the RoDTEP Scheme, Exporters can qualify to benefit from 0.5 percent to 4.3 percent of the FOB price of their exported products that are within specified HS Codes. In addition, RoDTEP benefits are not limited. RoDTEP benefits are limited to a certain value per product exported as is the Duty Drawback system, but it is subject to the value cap.

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