RoDTEP – Alignment of 4R with Finance Act, 2021 with effect from 01.01.2022

RoDTEP

– The RoDTEP (Remission of Duties and Taxes on Exported Products) scheme formed to replace the MEIS (Merchandise Export Incentives Scheme).

– The scheme will ensure that the exporters receive the refunds on the embedded taxes and duties previously non-recoverable. The scheme was brought about with the intention to boost exports which were relatively poor in volume previously.

Appendix 4R

• Under the Scheme, a rebate would be granted to eligible exporters at a notified rate as a percentage of FOB value with a value cap per unit of the exported product, wherever required, on export of items which are categorized under the notified 8 digit HS Code.
• DGFT vide notification No.19/2015-2020 dt. 17th August 2021 Scheme guidelines and rates for new scheme for RoDTEP have been notified in Appendix 4R.
• However, for certain export items, a fixed quantum of rebate amount per unit may also be notified.
• Rates of rebate / value cap per unit under RoDTEP notified in Appendix 4R.

Notification No. 04/2015-2020 Dated.11th May, 2022 – by DGFT

Alignment of 4R with Finance Act, 2021 with effect from 01.01.2022

Appendix 4R

• The DGFT notified vide notification No. 04/2015-20 with effect from 01.01.2022 New Appendix 4R schedule which is aligned with the Finance Act 2021.
• The New Appendix 4R containing the eligible RoDTEP export items, Rates and per unit value caps.
• And the implementation of new RoDTEP Schedule is with effect from 01.01.2020 after aligning earlier schedule with the customs tariff schedule as per finance Act 2021.

 On Per My View

• The export items, rates and per unit value caps notified in Appendix 4R on 17^th August 2021 vide notification No.19/2015-2020 are revised from 01.01.2022 onwards.
• With effect from dated. 01.01.2022 this notification the eligible RoDTEP export items, rates and per unit value caps has been changed in Appendix 4R schedule.
• A new RoDTEP schedule has been notified for implementation with effect from 01.01.2022 after aligning the earlier schedule with the customs tariff schedule as per finance act 2021.

Reviewed by : Venkatanarayana G M | Audumbar