The Directorate General of Foreign Trade (DGFT), vide notification no. 33/22023 issued on 26th September 2023 has notified the extension of Remission of Duties or Taxes on Export Products (RoDTEP) Scheme for the exports made from October 1st 2023 and it shall be applicable till June 30th 2024.
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 2023, the Central Government hereby notifies an extension of RoDTEP scheme for exports made from 01.10.2023.
The prevailing rates for all items eligible for RoDTEP will remain in effect for exports conducted from October 1, 2023, until June 30, 2024. However, these rates will be contingent upon the budgetary framework outlined in Paragraph 4.54 of FTP 2023, ensuring that the remissions for the ongoing fiscal year are administered within the approved budget of the scheme.
The RoDTEP scheme is a government initiative in India designed to promote and support the export sector by reimbursing exporters for various indirect taxes and duties that are not refunded through other existing schemes. The scheme was introduced to enhance the competitiveness of Indian exports in the global market by reducing the cost of exported goods.
Effect of this Notification: The RoDTEP scheme is extended for exports made from 01.10.2023 and shall be applicable till 30.06.2024.
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