Interest equalisation, RoDTEP export sops to be back soon
- Commerce Ministry Seeks Extension of Export Incentives
Highlights:
- The Commerce Ministry is pushing to restore the Interest Equalisation scheme, which is available for small businesses, till August 31, for all exporters
- And is trying to ensure that duty remission benefits granted to exporters, under a 2021 scheme called RoDTEP, are extended beyond September
- The Interest Equalisation Scheme (IES) that offered a rebate on pre- and post-shipment credit availed by exporters, had lapsed in June, and was restricted to micro, small and medium enterprises (MSMES) for two months since then.
- The RoDTeP (Remission of Duties and Taxes on Export Products) has been extended till September 30
- A review was scheduled under the stewardship of the Finance Secretary but will now have to wait till the government announces a new Finance Secretary after incumbent TV Somanathan was named the next Cabinet Secretary.
Prelims Takeaway
- RoDTEP
- Interest equalisation