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A. |
This scheme is comparatively new. It was introduced on 17.08.2021 vide notification no. 19/2015-20. |
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B. |
Chapter 4 of FTP and Handbook provides full particulars of this scheme. |
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C. |
The objective of the scheme is to refund currently un-refunded Duties/Taxes/Levies at the Central, State and Local levels borne on the export product. |
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D. |
A rebate would be granted to eligible exporters at a notified rate as a percentage of FOB value with a value cap per unit of the exported product.
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E. |
Exporter should know 8 digit HS Code of his export product |
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F. |
For certain export items, a fixed quantum of rebate amount per unit is notified. |
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G. |
Appendix 4R provides the rates for export products. |
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H. |
The exporter is required to realise and repatriate sale proceeds within time allowed under the Foreign Exchange Management Act, 1999. |
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I. |
However, the rebate would not be dependent on the realisation of export proceeds at the time of issue of rebate. |
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J. |
This scheme is implemented through end-to-end digitisation. |
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K. |
Rebate amount is in the form of a transferable duty credit/electronic scrip (e-scrip). |
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L. |
This e-scrip will be maintained in an electronic ledger by the Customs. |
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M. |
There are specific rules for application, export realisation, export documentation, sampling procedures, record keeping etc. |
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N. |
Provisions for recovery of rebate amount where foreign exchange is not realised, suspension/withholding of RoDTEP in case of frauds and misuse, as well as imposition of penalty is also applicable. |
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O. |
There are some export products, supplies/ items/ categories which are ineligible for this scheme.
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P. |
The e-scrips issued under this scheme will be used for payment of Basic Customs Duty. |
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Q. |
This e-scrip is freely transferable. |
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R. |
Proper declaration is to be made by the exporter in the Shipping Bill at the time of shipment. |
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S. |
This scheme is operated by the Customs. |