Trade Talks

I hope, by now, everybody is aware of what is the RoDTEP Scheme. Assuming that let me highlight some practical questions regarding this scheme. On 28th October 2020 under the chair of Mr. G. K. Pillai, the RoDTEP Committee was formed. The main objective of this committee is to determine the ceiling rates of items covered under the scheme. However, the data of chapter 86, 88, and 89 are still pending from the industry's side. It is predicted that the Remission of Duties and Taxes on Exported Products briefly known as the RoDTEP Scheme is likely to be launched under the new Foreign Trade Policy. The scheme seeks to refund currently un-refunded duties/taxes/levies at the local, state, and central level have borne on the exported products. In view of the above, I have jotted down some key questions which need to be answered, 1.  How to segregate the VAT and Excise Duty leviable on petrol & diesel on export and domestic selling products? 2.  How to segregate the electricity duty bet

India's share in the international market is substantially increased in recent years. As a result, US President Donald Trump has announced plans to end the US's preferential trade status (GSP) with India. It is a clear sign that India is no more a developing nation.  As a repercussion, Hon'ble Finance Minister Smt. Nirmala Sitharaman has recently announced that the MEIS scheme has to be discontinued effective from 31.12.2019. However, as per the latest announcement by DGFT, MEIS will be continued till March 2020.  This year, a new Foreign Trade Policy is likely to be announced in the month of April. Under the regime of the new Foreign Trade Policy, the scheme for 'Remission of Duties or Taxes on Export Product' (RoDTEP) will replace MEIS.  The scheme provides an additional export credit of up to Rs. 68,000 crores and the projected forgone revenue will be up to Rs. 50,000 crores. RoDTEP will also incentivize Indian exporters more than existing schemes (MEIS + RoS