The popular Merchandise Export from India Scheme (MEIS) for exporters will continue beyond March 31, for some more months and then be withdrawn in phases and replaced with the new Remission of Duties or Taxes on Export Product (RoDTEP) scheme following discussions on the appropriate rates with exporters, Commerce & Industry Minister Piyush Goyal said. RoDTEP was approved by the Cabinet on Friday.
“Whatever taxes, or duties or local levies imposed by the Centre, State or local governments that are not getting refunded through any other scheme, will be done through RoDTEP in a way that is compliant with the World Trade Organization (WTO) norms,” Goyal told reporters at a press conference after the Cabinet meeting.
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