Centre likely to extend RoDTEP scheme beyond Sept deadline

New Delhi, Apr 8 (KNN) The government is considering to extend the Remission of Duties and Taxes on Exported Products (RoDTEP) scheme beyond the September deadline, officials told ET.

RoDTEP scheme was expanded in December last year to include pharmaceuticals, chemicals and select steel products.

“At present, the monthly refund claims under the RoDTEP scheme are about Rs 1,200 crore. So, the budgeted allocation of Rs 15,069 crore for FY24 should be enough to continue to extend this benefit to the sectors that were included later," a senior official told ET.

However, if the department decides to further expand the scheme and include the entire iron and steel segment, it will require an additional Rs 1,000 crore for this fiscal, said the official.

In 2022-23, the government had allocated Rs 13,699 crore through the scheme.

Launched on January 1, 2021, the scheme refunds central, state and local levies incurred in the manufacture and export of products not covered by any other incentive scheme.  (KNN Bureau)