Govt develops verification mechanism for exporters Rodtep refund claims | Economy & Policy News

Premium A senior official said the government is now trying to put in place a verification mechanism, which can validate the rates. (Photo: Reuters)3 min read Last Updated : Jun 17 2024 | 11:02 PM IST
The government is developing a ‘verification mechanism’ to validate the refund claimed by exporters under Remission of Duties and Taxes on Export Products (RoDTEP). This will ensure that countries don’t retaliate against the scheme claiming that the reimbursements paid are subsidies.

The scheme came into effect over three years ago to refund the embedded non-creditable central, state and local levies paid on inputs to exporters to boost India’s exports.
 

However, last year, countries, including the United States (US), imposed countervailing or anti-subsidy duty on a few Indian products as retaliation against RoDTEP.
 

India has been strongly defending the subsidy allegation andFirst Published: Jun 17 2024 | 11:01 PM IST