Amendments to Scheme for Remission of Duties and Taxes on Exported Products: CBIC Clarifies [Read Circular]

The Central Board of Indirect Taxes and Customs (CBIC) has issued clarification regarding the amendments to the Scheme for Remission of Duties and Taxes on Exported Products (“RoDTEP”).

The Board, in a circular issued on Monday, stated that “The undersigned is directed to say that the RoDTEP scheme notification No. 76/2021-Customs (N.T.) dated September 23, 2021, has been amended vide notification No. 75/2022 – Customs (N.T.) dated September 14, 2022, whereby the para 4(2), para 5(5) and the words “or the transferee” in para 6 of the principal notification have been deleted. The effect of these amendments is the deletion of certain conditions related to transferee-holder of the scrip.”

“Further, the Electronic Duty Credit Ledger Regulations, 2021 issued vide notification No. 75/2021-Customs (N.T.) dated September 23, 2021, have been amended vide notification No. 79/2022 – Customs (N.T.) dated September 15, 2022. In Regulations 6(2) and 7(3) of the principal regulations, the words “two years” have been substituted for the words “one year”. The effect of these amendments is that the validity period of scrips is increased from one year to two years from the date of their generation,” the Board said.

To Read the full text of the Circular CLICK HERE

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