Union Minister: Hopefully the concerns of the SEZs on RoDTEP will be addressed shortly

Union Minister: Hopefully the concerns of the SEZs on RoDTEP will be addressed shortly

Union Minister Anupriya Patel expressed hope that the SEZ community’s request to extend the benefits of the RoDTEP tax rebate scheme will soon be spoken to. In the framework of remission of duties and taxes on exported products (RoDTEP) regime, various central and state duties, taxes, levies on inputs, among others, are returned to exporters to encourage exports.

Currently SEZs are allowed to sell their products domestically, but after payment of tariffs.

Bhuvnesh Seth, Chairman of Export Promotion Council for SEZ and EOUs (EPCES), urged the government to extend the benefits of RoDTEP to the sector.

“We are working with the Ministry of Revenue on this matter and we hope that your concerns will soon be taken into account,” Minister of State for Trade and Industry, said during the virtual launch of the new EPCES office.

She stated that in the RoDTEP guidelines, there is a provision for the RoDTEP committee to consider this matter.

She also said SEZs and EUOs will play an important role in meeting the US$400 billion export target for the current fiscal year.

On the pending payments of MEIS (India’s merchandise exports regime), Director General of Foreign Trade Amit Yadav said, “I have a feeling it’s in a week.”

Bhuvnesh Seth said the sector represents approximately 25 percent of the country’s total exports and “we will meet the $400 billion export target.”

from Studycafe https://ift.tt/3ttrJMV