THE GOVERNMENT HAS decided to extend tax benefits to export-oriented units and manufacturers in the special economic zones (SEZs). These units will get the benefits under the Remission of Duties or Taxes on Export Products (RODTEP) scheme. This will allay the concerns among these units in SEZS about non-refunded taxes denting their competitive edge in world markets.
"After the roll-out of ICEGATE (Indian Customs Electronic Data Interchange Gateway) in SEZs, the RODTEP scheme may also be extended to them," according to an office memorandum of the commerce ministry, reviewed by FE.
ICEGATE is the national portal of Indian Customs of Central Board of Indirect Taxes and Customs (CBIC) that provides e-filing services to the trade, cargo carriers and other trading partners. The inclusion of EoUs and SEZs in the RODTEP scheme will have to be notified by the Directorate General of Foreign Trade.
This story is from the February 19, 2024 edition of Financial Express Mumbai.
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This story is from the February 19, 2024 edition of Financial Express Mumbai.
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