Monday, February 6, 2023
  • Home
  • Politics
  • News
  • Business
  • Culture
  • National
  • Sports
  • Lifestyle
  • Travel
  • Opinion
No Result
View All Result
News 100
No Result
View All Result
Home Uncategorized

Govt to offer incentives to boost exports, notifies RoDTEP rates

news100 by news100
August 17, 2021
in Uncategorized
0 0
0
trade, export, container, major ports, import, shipping, sea, business, seafarer, merchan navy
0
SHARES
32
VIEWS



The government on Tuesday notified the rates for export incentive scheme RoDTEP and its rules with an aim to boost exports.

Related posts

Anyone missing a huge silver ingot? Police search for owner after NSW beach discovery

Anyone missing a huge silver ingot? Police search for owner after NSW beach discovery

January 6, 2023

Tesla Sales in China Slump as Competition Intensifies

January 6, 2023


The government has decided to extend the benefit of Remission of Duties and Taxes on Exported Products (RoDTEP) scheme to all goods, with effect from January 1, 2021, according to a notification by the Directorate General of Foreign Trade (DGFT).


The rates for different sectors include 0.5 per cent, 2.5 per cent and 4 per cent. It has also notified guidelines for the scheme.


“The Centre has today notified the RoDTEP guidelines and rates. The rates will cover 8,555 tariff lines (products),” the Commerce Ministry said in a statement.


Under the RoDTEP, various central and state duties, taxes, levies imposed on input products among others are refunded to exporters to boost exports


Government’s new incentive scheme is compliant with World Trade Organization rules.


The government plans to spend Rs 19,440 crore offering incentives to exporters under the scheme that would be effective from January 2021, a trade ministry official told reporters.


India has set a target of $400 billion in merchandise exports for the current fiscal year ending in March 2022, compared to $291.2 billion in the previous fiscal year.


“The scheme for zero rating of exports will boost our exports and competitiveness in the global markets. The rates of RoDTEP will cover 8,555 tariff lines,” an official communique said.


“It may be noted that Government is leaving no stone unturned to support domestic industry and make it more competitive in the international markets.”


According to the statement, export-centric industries are being reformed and introduced to better mechanisms so as to increase their competitiveness, boost exports, generate employment, and contribute to the overall economy.


“This will go a long way in achieving our vision of building an ‘Aatmanirbhar Bharat’.”


“RoDTEP is one such reform, based on the globally accepted principle that taxes and duties should not be exported, and taxes and levies borne on the exported products should be either exempted or remitted to exporters.”

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor





Source link

Tags: Commerce MinistryDirectorate GeneralDuty Entitlement Pass BookeconomyexportExport credit agenciesFreight transportinput productsInternational businessInternational tradeTrade

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

News 100

We bring you the best Premium WordPress Themes that perfect for news, magazine, personal blog, etc.

Follow us on social media:

Recent News

  • Commuters suffer fourth day of chaos as RMT launches new 48-hour strike -LIVE
  • North Korean students are expelled and forced to work in a coal mine
  • FA Cup third round, transfer window news and more: weekend countdown – live

Category

  • Africa
  • Australia
  • Business
  • China
  • Culture
  • Europe
  • History
  • History & Art
  • India
  • Lifestyle
  • Middle East
  • National
  • News
  • Opinion
  • Politcs
  • Science
  • Shorts
  • Sports
  • Travel
  • UK
  • Uncategorized
  • United States
  • World

Recent News

Commuters suffer fourth day of chaos as RMT launches new 48-hour strike -LIVE

Commuters suffer fourth day of chaos as RMT launches new 48-hour strike -LIVE

January 6, 2023
North Korean students have been expelled from university and forced to work in a coal mine because they sounded as if they had been watching too much foreign TV, which is banned by dictator Kim Jong-un (pictured in a photo released Jan. 1) in the authoritarian country

North Korean students are expelled and forced to work in a coal mine

January 6, 2023
  • Home 2
  • Science
  • UK
  • Australia
  • Sports
  • World
  • United States
  • India
  • History & Art
  • Uncategorized
  • Europe

© 2023 JNews - Premium WordPress news & magazine theme by Jegtheme.

No Result
View All Result
  • Home
  • Politics
  • News
  • Business
  • Culture
  • National
  • Sports
  • Lifestyle
  • Travel
  • Opinion

© 2023 JNews - Premium WordPress news & magazine theme by Jegtheme.

Welcome Back!

OR

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Slot88

Slot Gacor

Situs Slot Gacor

Slot Gacor

Slot Online

Daftar Slot88

Slot88

Slot Gacor

Slot Gacor

Slot88 Online

Slot Gacor Pragmatic

Slot Online Terbaik dan Terpercaya

Slot Gacor

Slot Online Terbaik dan Terpercaya