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Regarding the scheme for Remission of Duties and Taxes on Exported Products (RoDTEP), consider the following statements:
1. The scheme will reimburse exporters with embedded central, state and local taxes that have not been discounted or reimbursed so far.
2. The refund will be credited to the exporter's Customs ledger account  and used to pay the basic customs duty on the goods imported.
Which of the statements given above is/are correct?
  • a)
    1 only
  • b)
    2 only
  • c)
    Both 1 and 2
  • d)
    Neither 1 nor 2
Correct answer is option 'C'. Can you explain this answer?
Verified Answer
Regarding the scheme for Remission of Duties and Taxes on Exported Pro...
Government has decided to extend the benefit of the Remission of Duties and Taxes on Exported Products (RoDTEP) to all export goods to boost export.
  • The scheme will refund to exporters the embedded Central, State, and local taxes that were not given rebate or refunded.
  • The refund will be credited in the exporter's ledger account with Customs and used to pay Basic Customs duty on imported goods. The credits can also be transferred to other importers.
  • The RoDTEP rates will be notified shortly by the Department of Commerce, based on the recommendation of a committee chaired by former Commerce and Home Secretary Dr G.K. Pillai. The final report of the Committee is expected shortly.
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Most Upvoted Answer
Regarding the scheme for Remission of Duties and Taxes on Exported Pro...
Government has decided to extend the benefit of the Remission of Duties and Taxes on Exported Products (RoDTEP) to all export goods to boost export.
  • The scheme will refund to exporters the embedded Central, State, and local taxes that were not given rebate or refunded.
  • The refund will be credited in the exporter's ledger account with Customs and used to pay Basic Customs duty on imported goods. The credits can also be transferred to other importers.
  • The RoDTEP rates will be notified shortly by the Department of Commerce, based on the recommendation of a committee chaired by former Commerce and Home Secretary Dr G.K. Pillai. The final report of the Committee is expected shortly.
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Regarding the scheme for Remission of Duties and Taxes on Exported Products (RoDTEP), consider the following statements:1. The scheme will reimburse exporters with embedded central, state and local taxes that have not been discounted or reimbursed so far.2. The refund will be credited to the exporters Customs ledger account and used to pay the basic customs duty on the goods imported.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?
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