Government notifies Guidelines and Rates relating RoDTEP scheme

Government notified Guidelines and Rates relating to much awaited RoDTEP scheme

Government notified Guidelines and Rates relating to much awaited RoDTEP scheme Taxmann (Indirect Tax) Research and Advisory Team

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This article intends to update you with the guidelines and rates relating to much awaited Remission of Duties and Taxes on Exported Products (‘RoDTEP’/ ‘the Scheme’) scheme notified by the Government today. In this regard, we may note that the necessary Rules, Procedures, Priority sectors, etc. are yet to be notified.

The brief about the RoDTEP scheme, key features as notified under the guidelines, etc. are discussed below

A. About RoDTEP u

RoDTEP scheme replaces the existing MEIS scheme with the objective to reimburse the taxes and duties incurred by the exporters such as Local Taxes, Coal Cess, Mandi Tax, Electricity Duties etc. which are not getting exempted or refunded under any other existing scheme so that benefit of zero rate can be achieved

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Initially, the Scheme was made effective from January 1, 2021, however, the effective rate of rebate, guidelines relating to the scheme were not notified.

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In pursuance to above, the Government today has notified the scheme guidelines and rate of rebates on which the benefit of RoDTEP would be available to the exporters of goods.

B. Key Features u

Scheme would be effective from January 1, 2021

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Benefits would not be available in the following (illustrative) cases:

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Export of imported goods, Exports through transshipment

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Products which are prohibited & restricted under the Exports Policy

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Supplies to SEZ/FTWZ units

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Products manufactured in EHTP and BTP

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Products partly or wholly manufactured under Bonded Warehouse

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Exports made through non-EDI ports

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Used goods

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Products manufactured or exported in discharge of various export incentive schemes such as Advance Authorization, DFIA, EOU, units located in EPZ, SEZ, FTZ (inclusion of exports in this scheme made by these units along with the incentive rates would be decided based on the recommendation of RoDTEP Committee)

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Rebate would be granted in the form of e-scrips which can be used for making the payment of Basic Customs Duty. In other words, scrips cannot be utilized for the payment of IGST, Social Welfare Surcharge, Agriculture Infrastructure and Development Cess

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Realization of sales proceeds within time as per FEMA would be pre-requisite for claiming the benefit of RoDTEP Scheme

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Safeguards as given under the Drawback Schemes, GST refunds relating to exports would also be applicable for claiming benefit under RoDTEP Scheme

C. Way Forward u

Sequence of introduction of scheme across sectors, prioritization of sectors to be covered, degree of benefits to be given on various items within the rate set by the Committee, etc. would be decided and notified by the Government

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The RoDTEP rates would be reviewed and notified on annual basis

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CBIC would notify necessary rules and procedures regarding grant of RoDTEP claim under the Scheme and other implementation issues such as manner of application, time period of application, etc.

Click below to watch video presentation about the RoDTEP scheme by our Indirect Tax Research and Advisory Team. https://www.youtube.com/watch?v=GK8xU-z0tQY&t=318s

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Guide to

Customs Valuation AUTHOR

:

H.K. MAINGI

PUBLISHER

:

TAXMANN

DATE OF PUBLICATION :

AUGUST 2021

EDITION

:

2021

ISBN NO

:

9789390831920

NO. OF PAGES

:

252

BINDING TYPE

:

PAPERBACK

Rs. 595

Description Guide to Customs Valuation is a complete and comprehensive commentary on laws relating to valuation under Customs laws. It is a brief, concise and handy reference book, which provides the updated and simplified analysis of provisions to determine valuation under the Customs laws.

This book will be helpful for Customs Consultants, Advocates, Corporate Managers & Departmental Officers.

This book is divided into two parts: u Valuation of Imported Goods u Valuation of Export Goods The Present Publication is the Latest Edition, authored by H.K. Maingi, amended up to July 2021, with the following noteworthy features: u [Conceptual Understanding of Valuation] Conceptual understanding of provisions of Valuation under Section 14 of Customs Act and Customs Valuation (Determination of Value of Export Goods) Rules, 2007 u [Valuation] Valuation of Imported Goods & Exported Goods, Valuation in case of High Sea Sales & related persons, Valuation of capital goods on debonding, etc. u [Various Additions in Transaction Value] Various additions in Transaction Value such as Brokerage, Service Charge, Transportation, etc. u [Other Concepts] Concepts of related persons, under-invoicing and over-invoicing, Special Valuation Branch, etc.

This edition covers everything you need to understand about the provisions of Valuation under Customs in a subtle and simplified language.

ORDER NOW

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GST Exports-Imports & Deemed Exports AUTHOR

: KAZA SUBRAHMANYAM, T.N.C. RAJAGOPALAN

PUBLISHER

: TAXMANN

DATE OF PUBLICATION : AUGUST 2021 EDITION

: 2ND EDITION

ISBN NO

: 9789391596385

NO. OF PAGES

: 992

BINDING TYPE

: PAPERBACK

Rs. 595

Description GST Exports-Imports & Deemed Exports is a harmonious blend of the following laws: u GST u Customs u Foreign Trade Policy u Allied Laws This book aims to consolidate & explain different provisions of the law and subsequent procedural changes such as Notifications, Circulars, Instructions and Trade Notices issued by CBIC and DGFT, along with relevant Advance Rulings with regards to Imports, Exports, Deemed Exports under different laws.

This book is intended to help the trade and industry dealing with exports, imports and deemed exports for compliance with the legal requirements and avail the benefits under various provisions of the Foreign Trade Policy, Customs and GST laws with better understanding and appreciation of the intricacies.

The Present Publication is the 2nd Edition, authored by Kaza Subrahmanyam & T.N.C. Rajagopalan, with the following coverage: u [Conceptual Understanding of provisions of Imports and Exports] of Goods & Services u [Meaning of Zero Rated Supply along with Refunds] for Physical Exports and Deemed Exports under GST u [Treatment of supplies by and to EOU/SEZ unit or SEZ Developer/FTWZ] along with Special Exemptions/Concessions and procedural requirements u [Foreign Trade Policy] under GST

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