Thursday, 8 April 2021
The Department of Commerce may take a relook at the refund rates recommended by a government-appointed committee for the recently announced Remission of Duties and Taxes on Exported Products (RoDTEP). This is after an industry outcry over the suggested rates.
A person aware of the development said as much as Rs 30,000 crore would be needed for the RoDTEP, as compared to the Rs 13,000 crore allocated in the Budget. The finance ministry’s revenue department has also examined the recommendations of a committee chaired by former home and commerce secretary GK Pillai.