New Delhi, Mar 13 (UNI) The Cabinet Committee on Economic Affairs on Friday gave its approval for introducing the Scheme for Remission of Duties and Taxes on Exported Products (RoDTEP) under which a mechanism would be created for reimbursement of taxes, duties and levies, at the central, state and local level, which are currently not being refunded under any other mechanism, but which are incurred in the process of manufacture and distribution of exported products.
This scheme is going to give a boost to the domestic industry and Indian exports providing a level playing field for Indian producers in the International market so that domestic taxes or duties are not exported, Union Commerce and Industry Minister Piyush Goyal told reporters after the meeting, chaired by Prime Minister Narendra Modi.
Under the Scheme an inter-ministerial Committee will determine the rates and items for which the reimbursement of taxes and duties would be provided.