RoDTEP Scheme 2024: New Extension for Chemical and Steel Sectors

The Government of India has extended the Remission of Duties and Taxes on Exported Products (RoDTEP) scheme benefits for critical sectors, including iron and steel, chemicals, and pharmaceuticals. This move is designed to ensure that Indian exporters in these high-volume industries can balance domestic costs with international pricing competition. Under the scheme, taxes and duties incurred during manufacturing and distribution that are not otherwise refunded are remitted to exporters as transferable e-scrips. As per DGFT Notification No. 70/2023, the extension applies to specific HS codes that were previously slated for exclusion. Exporters must ensure that their shipping bills are correctly marked with the RoDTEP intent to claim these benefits. The remission rates, which vary by product category, are calculated as a percentage of the FOB value of exports, providing a necessary liquidity boost to SMEs handling bulk commodities. ## What this means for exporters Exporters in the chemical and steel sectors can now factor in the duty remission while bidding for long-term international contracts. It is essential to verify if your specific HSN code is covered under the latest appendix to avoid missing out on credits. Ensure your E-ledger is active on the ICEGATE portal to monitor the transition of these scrips into usable duty credits for future imports.