The government has constituted a three-member committee for determination of ceiling rates under a scheme for reimbursement of taxes and duties to exporters.

Share Market Live

NSE

The reimbursement of taxes under the Remission of Duties and Taxes on Export Products (RoDTEP) such as duty on power charges, VAT on fuel in transportation, farm sector, captive power generation, mandi tax, stamp duty and central excise duty on fuel used in transportation would make Indian products competitive in global markets.

It was decided that the sectors and products under the RoDTEP scheme would be notified in a phased manner and the MEIS (Merchandise Export from India Scheme) benefit for those sectors and items will be withdrawn.

According to an order of the Central Board of Indirect Taxes and Customs (CBIC), the committee would be chaired by Secretary (retd) G K Pillai. The other two members are Y G Parande (retd CBIC member) and Gautam Ray (retd chief commissioner of custom and central excise).

The terms of reference of the committee include interacting with the administrative ministries, export promotion councils, commodity boards, trade bodies and other stakeholders so as to take their views on the ceiling rates under RoDTEP scheme.

The committee will submit its main report to the government within three months from identification and prioritisation of sectors/items by the government.

First Published:Aug 7, 2020 11:39 PM IST