Exporters who are disappointed with Remission of Duties and Taxes on Exported Products (RoDTEP) rates and product exclusion have asked the commerce ministry to revisit it.
Sources have indicated that the issue was flagged by the industry and exporters during the recent interaction with commerce minister Piyush Goyal. He had reportedly informed them that sectors including steel and pharma could be considered to be part of the RoDTEP.
Goyal had, however, said that higher rates would lead the country being dragged to the WTO. He urged the industry to look at the RoDTEP not as an export incentive but as a remission of duties and taxes.
The exporters’ body FIEO in its letter has pointed out that when the RoDTEP Scheme was announced on January 1, iron & steel, pharmaceuticals and chemicals were not in the excluded categories.
“Moreover, all the exporters of the product groups have made shipments under the RoDTEP and also have the notional RoDTEP rates in their shipping bills,” the letter said.
The pricing of the export items has been done assuming that they would get RoDTEP benefits. Now if these categories will not get RoDTEP benefit, their profits may take a hit.
