RoDTEP and RoSCTL Incentives Extended To E-Commerce Exports
Updated: Sep 17, 2024 03:49:26pm
RoDTEP and RoSCTL Incentives Extended To E-Commerce Exports
Mumbai, Sep 17 (KNN) In a major step aimed at promoting e-commerce exports, the government has extended key incentives for exports conducted through courier services, the Ministry of Commerce announced at the Board of Trade (BoT) meeting held in Mumbai.
This decision underscores the government’s focus on enhancing India’s share in global e-commerce trade and was disclosed by officials from the Central Board of Indirect Taxes and Customs (CBIC).
Effective immediately, export benefits under the RoDTEP (Remission of Duties and Taxes on Exported Products), RoSCTL (Rebate of State and Central Levies and Taxes), and drawback schemes will now cover all shipments sent via the courier route.
"This initiative is a part of our commitment to streamline e-commerce exports and support emerging exporters in the country," the commerce ministry said in a statement.
Additionally, there are plans to extend these benefits to exports made through the postal route, creating a more equitable environment for exporters using both courier and postal mediums.
RoDTEP provides crucial refunds on central, state, and local taxes not covered by other schemes and spans a wide range of sectors including agriculture, electronics, automobiles, and plastics. RoSCTL, meanwhile, offers rebates on state and central levies for the entire textile value chain.
The drawback scheme refunds customs duties and excise levies on imported materials used in the manufacturing of exported goods.
The extension of these benefits arrives as India seeks to ramp up e-commerce exports, which currently stand at around USD 2 billion.
Government estimates suggest that India’s e-commerce export potential could reach USD 200-300 billion by 2030, reflecting the tremendous growth opportunities ahead. Globally, e-commerce exports are projected to soar to USD 2 trillion by 2030 from the current USD 800 billion.
In parallel to the export incentives, the Ministry of Commerce also unveiled two new online portals to simplify services for exporters. The Jan Sunwai Portal, run by the Directorate General of Foreign Trade (DGFT), offers video conferencing-based grievance redressal, while the Export Credit Guarantee Corporation (ECGC) launched an online service portal to streamline paperless processing for exporters and banks.
Commerce and Industry Minister Piyush Goyal emphasised that these digital tools mark a significant leap towards faceless service delivery, improving operational efficiency and customer service.
The BoT meeting also discussed broader trade issues such as quality standards, organic farming, and upcoming free trade agreements, with state governments and industry stakeholders collaborating on policies to strengthen India’s international trade.
(KNN Bureau)