Union Cabinet approves RoDTEP
The Union Cabinet approved the Remission of Duties or Taxes on Export Products (RoDTEP). It is a scheme for exporters to reimburse taxes and duties paid, like value added tax, coal cess and electricity duties which are not exempted or refunded under existing mechanism.
Last year, the RoDTEP scheme was announced by the Finance Minister Nirmala Sitharaman at an estimated cost of Rs 50,000 crore, to incentivize exporters. It will replace the Merchandise Export from India Scheme (MEIS) which will be phased out.