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“Submit rolling out of ICEGATE (Indian Customs Digital Knowledge Interchange Gateway) in SEZs, the RoDTEP scheme might also be prolonged to SEZs,” stated the commerce division in an workplace memorandum.
This Directorate Normal of Overseas Commerce is more likely to problem a proper notification quickly amending the overseas commerce coverage on the identical.
ICEGATE is the nationwide portal of Indian Customs of Central Board of Oblique Taxes and Customs and is an interface between the commerce customers and customs division.
The federal government in August 2021 introduced the charges of tax refunds beneath the scheme for 8,555 merchandise however SEZs and EOUs had been excluded.
As per financial think-tank World Commerce Analysis Initiative (GTRI), large-scale exports from SEZs, similar to electronics, petroleum merchandise, and jewelry, which have excessive import content material, RODTEP might signify a major incentive.The scheme doesn’t embody all exports. Merchandise exported from SEZs, EOUs, Digital {Hardware} Expertise Parks, Biotechnology Parks and Customs bonded warehouses; exports beneath Advance Authorisation (which permits duty-free imports of inputs for export manufacturing); re-exported imported items are excluded.The listing additionally contains exports subjected to minimal export value or export obligation; restricted export or import merchandise; and provides from Home Tariff Areas to SEZz and Free Commerce and Warehousing Zones items.
GTRI cautioned that RODTEP could result in overcompensation for import intensive exports from SEZs.
The choice could also be a disproportionately “excessive bonanza” for prime import intensive exports from SEZs, it stated, including that the choice overlooks exports from different classes which might be in an analogous state of affairs as SEZs.
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