RoDTEP seeks to neutralise the cost impact of duties and taxes in the supply chain, not otherwise offset through duty drawbacks, tax credits/refunds, or similar mechanisms. By Krishna Barad, Abhishek SinghaniaRemissions of Duties and Taxes on Exported Products Scheme (RoDTEP) has been a much-awaited scheme notified by the Government of India after phasing out the
India Business News: Hit by two anti-subsidy actions in the US and the European Union, government is looking to revamp the system for Remission of Duties and Taxes on Expo
India s Global Trade Research Initiative (GTRI) suggests that reducing import duties on inputs and capital goods could help reduce the need for many existing export schemes. The think tank argues that many countries, including major trade partners like the EU and the US, view Indian schemes as subsidies and "punish" exporters by charging countervailing duties.
India and the US have informed the World Trade Organization (WTO) on the mutual resolution all the six trade disputes, in line with the commitment they made last month. In five separate notifications to the WTO on Tuesday, they asked the multilateral trade watchdog to terminate these disputes. The US and India had initiated three disputes each.