February 23, 2021
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Commerce Ministry has announced new scheme, RoDTEP, from January 1, 2021 to compensate exporters for the input taxes not reimbursed under existing schemes
Concerned about the fate of exporters from the garments and made-ups sector who had to shift to the new incentive scheme, Remission of Duties and Taxes on Export Products (RoDTEP), from January 1 2021, the Textiles Ministry has sought details from the Commerce Ministry on the rates of reimbursement they will be entitled to, a source closely tracking the matter has said.
“Exporters of garments and made-ups are nervous as they have no idea what reimbursement rates they will get under the new RoDTEP scheme and whether they would be comparable to the earlier scheme RoSCTL. The Textiles Ministry therefore wants to find out what the rates are before they are announced so it can have some say in the matter, the official told
Interest equalisation scheme for exporters likely to be extended
February 11, 2021
Mending needed Policymakers must redesign the Interest Equalisation Scheme to make it more effective S.SIVA SARAVANAN
Mending needed Policymakers must redesign the Interest Equalisation Scheme to make it more effective S.SIVA SARAVANAN×
₹1,900-crore budgetary provisionleads to hope among exporters The government is likely to extend the interest equalisation scheme for exporters, which is to lapse on March 31, 2021, by at least another year, to help them deal better with the disruptions caused by the Covid-19 pandemic.
“The interest equalisation scheme was announced for a period of five years in the Foreign Trade Policy (2015-20). Its validity was extended by a year last fiscal as the government deferred the announcement of a new five-year Foreign Trade Policy due to the pandemic. It is likely that the government would extend the scheme at least by a year as exporters need continued support