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Date: 24/04/2024

Govt sets up RoDTEP verification mechanism

The government is putting in place a verification process to establish that only input duties have been remitted under the Remission of Duties and Taxes on Exported Products (RoDTEP) scheme, especially designed to be WTO compatible, whenever investigations are sought by an importing country on an alleged payout of subsidies.
 
A verification team with officials from the Department of Revenue and DGFT will hold random inspections of manufacturers when any complaint is made by an importing country, for instance, the US, on alleged subsidy payouts for particular products. All input taxes paid by the selected manufacturer will be tallied with the RoDTEP payments received, to satisfy the importing country that only duties and taxes paid during production have been remitted. Earlier, the US and the EU had imposed countervailing (anti-subsidy) duties on some Indian products against RoDTEP payments availed. The verification committee will be in a better position to establish the connection during its random checks, as per a report.
 
source: Exim News Service: New Delhi, April 23



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