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RoDTEP stands for Remission of Duties and Taxes on Export Products. It is a brand new scheme this is relevant with impact from January 1st, 2021, fashioned to update the present MEIS (Merchandise Exports from India Scheme). The scheme will make certain that the exporters acquire the refunds at the embedded taxes and obligations formerly non-recoverable. The scheme became delivered approximately for you to enhance exports which have been surprisingly bad in quantity formerly.
Merchandise Exports from India Scheme (MEIS) under the Foreign Trade Policy of India (FTP 2015-20) is one of the schemes introduced in the Foreign Trade Policy of India 2015-20, as a part of the Exports from India Scheme.
India has discontinued the export incentive schemes (like MEIS), which are not in compliance with WTO guidelines. The Government of India Ministry of Finance, Department of Revenue Central Board of Indirect Taxes & Customs Drawback Division has notified a new scheme called Rebate of State and Central Taxes and Levies Scheme on the export of garments and made-ups (RoSCTL Scheme). Under the said plot state and focal assessments and duties which are available at the expense of fares of articles of clothing and made-ups will be refunded. The Scheme will remain in effect till 31st March 2020. The existing Rebate of State Levies (RSL) scheme for garments and made-ups has been discontinued. Currently, this scheme is available for the Textile industry only, however, it would be soon extended to other sectors as well.
The Government of India provides a 3% to 6% incentive to exporters to encourage exports. SEIS benefits are provided to Service Exporters under the SEIS scheme (Service Exports from India Scheme) to all service providers who are eligible and provide services from India to other countries. The Service Exports from India Scheme (SEIS Scheme India) and (MEIS Scheme) has been introduced in India in 2015 and is valid for 5 years i.e. from 2015-20. This scheme has been introduced as part of the New Foreign Trade Policy 2015-20 and replaces the Service from India Scheme (SFIC) which was applicable earlier.