: New Scheme for Remission of Duties and Taxes for Exports on Anvil #FinanceIndia #StockMarketNEWS New Scheme for Remission of Duties and Taxes for Exports on Anvil New Delhi, Sept 14 (KNN) The Central

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New Scheme for Remission of Duties and Taxes for Exports on Anvil #FinanceIndia #StockMarketNEWS
New Scheme for Remission of Duties and Taxes for Exports on Anvil New Delhi, Sept 14 (KNN) The Central Board of Indirect Taxes & Customs (CBIC) has constituted a Committee for determination of Ceiling Rates to bring out a new scheme for Remission of Duties and Taxes on Exported Products (RoDTEP).

The new RoDTEP scheme is likely to cover currently un-refunded duties and taxes at the Central, State and local level incurred by the exported product including ‘prior stage cumulative indirect taxes on goods and services used in the production of the exported product’.

It is to also cover Indirect taxes on the distribution of the exported product.

The CBIC is reaching out to industry associations and stakeholders to seek inputs on the determination of ceiling rates under the RoDTEP scheme on export products.

The inputs are sought in a specified proforma comprising three parts namely Format - Rl, R2, and R3 to be filled separately for each export product by a manufacturing/ exporting unit.

Federation of Indian Micro and Small & Medium Enterprises (FISME) - the chief MSME body of the country, is collating data for MSMEs.

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