Chartered Accountant with more than 15 years of practice. Specialized in the field of Indirect taxation and Foreign Trade Policy. GST consultant for various companies. Assisted many Exporters in documentation and in obtaining the Export Incentive from the DGFT.
A new scheme RoDTEP has been introduced from 1.1.2021 instead of MEIS scheme which is available for all Physical exports.
Below is a detailed explanation on the provisions enabled in System in relation to the new scheme:
MENTION IN THE SHIPPING BILL
It is mandatory as of now for all items in the Shipping Bill starting 01.01.2021 to mention if the exporter intendents to avail the benefit of RoDTEP or not.
RoDTEP rates will be notified as per the RITC Code (HSN code) and therefore, there will be no need to declare any separate code or schedule serial number for RoDTEP.
DECLARATION IN THE SHIPPING BILL
INFO TYPE = DTY
INFO QFR = RDT
INFO CODE = RODTEPY – If RoDTEP is availed
RODTEPN – if not availed.
INFO MSR = Quantity of the items in Statistical UQC as per the Customs Tariff Act for that item RITC
INFO UQC = UQC for the Quantity indicated in INFO_MSR.
Apart from this information in case of those availing RoDTEP has to provide a declaration in Statement Table of the shipping bill
STATEMENT TYPE = DEC
STATEMENT CODE = RD001
It may be noted that if RODTEPY is not specifically claimed in the Shipping Bill, no RoDTEP would accrue to the exporter.
The rate for the RoDTEP has not been notified yet by the Government. Once the rates are notified the system will automatically calculate the amounts eligible. However it is mandatory for the exporter to mention the intention to avail the benefit in the shipping bill.
Based on the information provided as mentioned above System will be processed the eligible RoDTEP.
Once the Shipping Bill is processed for DBK and/or RoDTEP either by the officer or as per facilitation by RMS, it will move to the respective scroll queues.
GENERATION OF SCROLL
Once the scroll is generated, the respective amounts would be available with the exporter as credits on the ICEGATE portal.
CLAIMING OF THE CREDIT AND GENERATION OF THE CREDIT SCRIPTS
Once the scroll is generated the exporter can log into their ICEGATE portal and convert them into credit scripts. The exporter will be able to club the credits allowed for any number of Shipping Bills at a port and generate a credit scrip for the same on ICEGATE portal.
UTILIZATION OF THE SCRIPS
These scrips can be used for the payment of import duties as would be notified by CBIC.
The exporter can transfer the scrip to any other IEC holder who will be able to use this scrip in bill of entry by giving the licence details . The scheme code to be used for these scrips would be “RD” along with the applicable Notification Number,