DBK need not be surrendered if export proceeds realised late
Business Standard|November 12, 2024
We refer to the DGFT PN 27 dated 23rd October 2024 prescribing annual RODTEP return and suggesting that RODTEP claims in excess of actual duties/taxes/levies actually paid will be required to be surrendered by the exporters.
T N C RAJAGOPALAN
DBK need not be surrendered if export proceeds realised late

As we understand, the RODTEP rates are based on, besides other data submitted by various exporters, the cost of transportation of inputs and export products from/to the port.

We are located far away from the port and so such costs in our case are bound to be higher than that of the exporters closer to the port. So, our claims based on the RODTEP rates determined as an average of duties/taxes/levies borne by a cross section of exporters are also likely to be lower than the actual duties/taxes/levies paid by us.

Will we be allowed to claim the difference between the actual duties/taxes/levies paid by us and the actual amount of our RODTEP claims?

This story is from the November 12, 2024 edition of Business Standard.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

This story is from the November 12, 2024 edition of Business Standard.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

MORE STORIES FROM BUSINESS STANDARDView All
IndiGo stock takes off on rating upgrade
Business Standard

IndiGo stock takes off on rating upgrade

Elara Capital gives 'buy' rating after IndiGo's highest-ever traffic in November

time-read
3 mins  |
December 27, 2024
Business Standard

Wait for NAV, price on exchange to converge before investing

Indian investors seeking to diversify their portfolios through overseas exchange-traded funds (ETFs) are paying a premium.

time-read
2 mins  |
December 27, 2024
Business Standard

Multiple triggers for Vedanta stock

Vedanta’s stock is experiencing multiple positive triggers, primarily driven by favorable aluminium and zinc price trends. The company's demerger plans, while modified, are expected to unlock value and improve capital allocation. Key projects coming online in the next 12-18 months, including alumina refinery expansion and captive mines, are poised to significantly boost earnings.

time-read
2 mins  |
December 27, 2024
Markets settle flat in muted trade
Business Standard

Markets settle flat in muted trade

Benchmark indices Sensex and Nifty ended flat in listless trading on Thursday amid a lack of near-term triggers and unabated foreign fund outflows.

time-read
1 min  |
December 27, 2024
Business Standard

India Third-Best Performing Major Market in 2024

The domestic market capitalization has soared 18.4 percent to $5.18 trillion in 2024, adding $806 billion.

time-read
1 min  |
December 27, 2024
Business Standard

MP High Court stays Burmans' Religare open offer

In a strange turn of events, the Madhya Pradesh High Court's Jabalpur Bench has stayed the Burman family's open offer to acquire an additional 26 per cent stake in Religare Enterprises, and the company's annual general body meeting.

time-read
1 min  |
December 27, 2024
IPO Mopup Likely to Top ₹2 Trillion Mark Next Year
Business Standard

IPO Mopup Likely to Top ₹2 Trillion Mark Next Year

Fund mobilisation through initial public offerings (IPOs) will continue to rise in 2025 and the total amount is expected to breach the ₹2 trillion mark, investment banking firm Pantomath Group estimates.

time-read
1 min  |
December 27, 2024
Derivatives volume drops 37%
Business Standard

Derivatives volume drops 37%

Stricter trading norms help cool off speculative activity in December so far

time-read
2 mins  |
December 27, 2024
Indian crypto investors ride Bitcoin, altcoin wave
Business Standard

Indian crypto investors ride Bitcoin, altcoin wave

The majority of crypto investors in the country have invested in mainstream virtual digital assets (VDAs) such as Bitcoins, altcoins like Dogecoin, Shiba Inu, and Ethereum, followed by non-fungible tokens (NFTs) and stablecoins, a compilation of year-end reports of crypto majors CoinDCX and CoinSwitch revealed.

time-read
2 mins  |
December 27, 2024
28% OF LS SEATS HAD NO WOMAN CANDIDATE IN 2024
Business Standard

28% OF LS SEATS HAD NO WOMAN CANDIDATE IN 2024

The Election Commission of India on Thursday released 42 statistical reports for the Lok Sabha (LS) elections 2024.

time-read
1 min  |
December 27, 2024