Commerce and Industry Minister Piyush Goyal on Thursday said that the government will extend the benefits of the Remission of Duties and Taxes on Exported Products (RoDTEP) scheme to e-commerce exports down through post and courier. The Commerce and Industry Ministry will soon put in place the necessary IT framework and other enablers for the extension of the scheme for the exporters.
The scheme provides for refund of taxes, duties, and levies that are incurred by exporters for manufacturing and distribution of goods and are not reimbursed.
“We are extending RoDTEP benefits for exports through e-commerce,” said Commerce and Industry Minister Piyush Goyal while releasing a handbook for MSMEs with a focus on e-commerce exports.
At present, e-commerce players who are exporting are not getting RoDTEP benefits, an official said.
“Whatever IT enablement is required with the Department of Revenue, is being worked upon and they will finalize it soon,” the official said, adding that the department is planning to bring it to implementation speed in around two months.
The move will benefit e-commerce exports done through the postal and courier routes which are pegged at $1.2-1.5 billion. India aims to achieve $1 trillion in merchandise exports by 2030.
The benefits to e-commerce exports are expected to be available across sectors at the same rate as physical exports.
As part of promoting e-commerce exports, the Directorate General of Foreign Trade signed a memorandum of understanding with Shiprocket for holding capacity building and handholding sessions under its Districts as Export Hubs Initiative.
Source: a2ztaxcorp.com
