The Directorate General of Foreign Trade ( DGFT ) has issued Notification No. 74/2023 dated March 11, 2024, notifying the implementation of the Remission of Duties and Taxes on Exported Products ( RoDTEP ) scheme for exports of products manufactured by Advance Authorization ( AA ) holders ( except deemed exports ) and Export Oriented Units ( EOU ) across 166 Tariff lines which enclosed with the notification.
This notification, containing the Annexure specifying the Tariff lines, is slated to come into effect from April 01, 2024.
This notification is enacted under the authority vested in the DGFT by Section 5 of the Foreign Trade ( Development and Regulation ) Act, 1992, read with Para 1.02 of the Foreign Trade Policy 2023, as amended. It is also in reference to Notification No. 70/2023 dated March 08, 2024, issued by the Central Government.
Key Points of the Notification:
RoDTEP Implementation: The notification confirms the commencement of RoDTEP implementation for exports of products manufactured by AA holders ( excluding Deemed Exports ) and EOU across 166 specified Tariff lines.
Effective Date: The implementation of RoDTEP for the aforementioned exports will be effective from April 01, 2024. This indicates the start of the scheme’s operationalization for eligible exports from this date onwards.
Tariff Line Specifics: The Annexure attached to the notification contains details of the 166 Tariff lines for which RoDTEP benefits will be applicable. These specifics offer clarity to exporters regarding the products covered under the scheme.
Legal Basis: The enactment of this notification aligns with the provisions of the Foreign Trade Policy 2023 and the Foreign Trade ( Development and Regulation ) Act, 1992. It underscores the government’s commitment to facilitating trade and providing support to exporters through schemes like RoDTEP.
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