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The Department of Revenue had set the annual financial outlay at Rs 13,000 crore to include 7,910 tariff items, which were covered under MEIS. But DoC suggested that such a move will give an impression that RoDTEP is just a re-instrumentation of the MEIS in a new form.
“This risks RoDTEP scheme being dragged to the World-Trade Organisation (WTO) ab-initio,” the department wrote in its recommendations to the committee of secretaries for RoDTEP, accessed by ET.
Limiting the outgo of the scheme to Rs 13,000 crore would have required either imposition of cap per exporter per annum, as was done under MEIS last year, or exclusion of certain sectors or scaling down the remission rates.
A cabinet note is likely to be floated this week and the final announcement may be made in 15 days, people close to the matter told ET.
DoC has suggested increasing the financial outlay by Rs 7000 crore will provide benefits to all the 11,310 harmonized system (HS) code lines including companies approved under the Production-Linked Incentive<\/a> (PLI) scheme, advance authorization beneficiaries, special economic zones and export-oriented units without putting a large fiscal pressure on the government. HS is a code assigned for every single item which is traded, from components to finished goods.
This would fully delink RoDTEP with MEIS and allay any legal and technical concerns that trading partners may have and best serve the interests of small exporters in a fair and non-discriminatory manner, the recommendations said. This would also support the exporters to overcome the challenges of post-Covid recessionary world.
Read also<\/h4><\/a><\/figure>State govt, cities committing big mistake by looking at revenue from telecom infra: DoT joint secy<\/a><\/h5><\/div><\/a><\/figure>RoDTEP announcement likely in 2 weeks: DGFT<\/a><\/h5><\/div><\/div><\/div>
RoDTEP, effective from January 1, 2021, is a tax refund scheme which remits the taxes and levies borne by exporters as percentage of value of goods exported. The simple principle is ‘taxes and duties should not be exported’.
It was formed after the WTO ruled against India<\/a> that the MEIS is incompatible with world trade norms and must be pulled out.
According to industry sources, mobile phone exporters are likely to be assigned a remission rate between 0.5% and 0.8%, which is sharply less than the 4% which MEIS used to offer. This will impact the cash flows of PLI-approved companies like Apple<\/a> phone makers Foxconn<\/a> and Wistron<\/a> besides Samsung<\/a>, which have huge export targets, said experts.
Overall, given that the budget of RoDTEP at Rs 13,000 crore is modest compared to Rs 50,000 crore of MEIS, all export sectors are likely to get very low compensation rates, they added.
<\/body>","next_sibling":[{"msid":83563312,"title":"Videocon insolvency: Creditors to take 96% haircut on dues; NCLT requests increase in pay-out","entity_type":"ARTICLE","link":"\/news\/videocon-insolvency-creditors-to-take-96-haircut-on-dues-nclt-requests-increase-in-pay-out\/83563312","category_name":null,"category_name_seo":"telecomnews"}],"related_content":[],"msid":83563381,"entity_type":"ARTICLE","title":"Commerce department pushes for increasing RoDTEP budget","synopsis":"The Department of Revenue had set the annual financial outlay at Rs 13,000 crore to include 7,910 tariff items, which were covered under MEIS. But DoC suggested that such a move will give an impression that RoDTEP is just a re-instrumentation of the MEIS in a new form.","titleseo":"telecomnews\/commerce-department-pushes-for-increasing-rodtep-budget","status":"ACTIVE","authors":[{"author_name":"Himanshi Lohchab","author_link":"\/author\/479253129\/himanshi-lohchab","author_image":"https:\/\/etimg.etb2bimg.com\/authorthumb\/479253129.cms?width=100&height=100","author_additional":{"thumbsize":false,"msid":479253129,"author_name":"Himanshi Lohchab","author_seo_name":"himanshi-lohchab","designation":"Journalist","agency":false}}],"analytics":{"comments":0,"views":495,"shares":0,"engagementtimems":1750000},"Alttitle":{"minfo":""},"artag":"ETTelecom","artdate":"2021-06-16 09:34:02","lastupd":"2021-06-16 09:34:02","breadcrumbTags":["Department of Commerce","apple","Samsung","WTO","Wistron","Foxconn","Commerce Department","India","production-linked incentive","policy"],"secinfo":{"seolocation":"telecomnews\/commerce-department-pushes-for-increasing-rodtep-budget"}}" data-authors="[" himanshi lohchab"]" data-category-name="" data-category_id="" data-date="2021-06-16" data-index="article_1">
- Telecom乐动扑克News
- 2分钟阅读
商务部推动RoDTEP增加预算
收入的部门设置年度财务费用包括7910项关税13000卢比,多企业信息系统覆盖下。但医生建议,这样的举动会给人一个印象,RoDTEP只是一个re-instrumentation多企业信息系统的一种新形式。
新德里:商务部(DoC)建议增加预算的缓解出口产品的关税和税收计划(RoDTEP) 20000卢比到11310年覆盖所有关税额度和消除任何法律问题,它是一个纯粹的更换世贸组织不一致的商品出口激励方案(说)。
收入的部门设置年度财务费用包括7910项关税13000卢比,多企业信息系统覆盖下。但医生建议,这样的举动会给人一个印象,RoDTEP只是一个re-instrumentation多企业信息系统的一种新形式。
“这风险RoDTEP计划被拖向世界贸易组织(WTO)从头开始,“部门写的建议为RoDTEP委员会秘书,访问等。
限制计划13000卢比的支出需要每年征收帽/出口国,去年多企业信息系统下完成,或排除某些行业或缩小缓解率。
内阁本周注意可能会提出,最后宣布可能在15天,知情人士告诉等。
医生建议金融支出增加7000卢比将提供所有11310人协调系统(HS)代码行包括公司批准下根据激励(PLI)计划,预先授权受益人,经济特区和出口导向型单位没有给政府很大的财政压力。HS是代码分配每一项交易,从组件到成品。
这将完全脱钩RoDTEP MEIS和消除任何法律和技术问题,贸易伙伴可能和最佳服务于小型出口企业的利益在一个公平的和非歧视性的方式,建议说。这也支持出口商要克服的挑战post-Covid衰退的世界。
RoDTEP,有效的从2021年1月1日,是一个融汇的退税计划捐税由出口商出口货物价值的百分比。简单的原则是“不应出口税和关税”。
成立后,世贸组织的裁定印度多企业信息系统,是不符合世界贸易规范,必须退出。
据业内人士称,手机出口商可能会分配一个缓解率在0.5%和0.8%之间,这是大幅低于4%多企业信息系统的使用。这将影响PLI-approved公司的现金流苹果手机制造商富士康和纬创资通除了三星有巨大的出口目标,专家说。
总的来说,考虑到预算在13000卢比RoDTEP相比是适度MEIS 50000卢比,所有出口行业有可能得到补偿率很低,他们补充说。
<\/span><\/figcaption><\/figure>New Delhi: The Department of Commerce<\/a> (DoC) has recommended increasing the budget of the Remission of Duties and Taxes on Export Products (RoDTEP) scheme to Rs 20,000 crore to cover all 11,310 tariff lines and allay any legal concerns that it is a mere replacement of the WTO<\/a> non-compliant Merchandise Export Incentive Scheme (MEIS).
The Department of Revenue had set the annual financial outlay at Rs 13,000 crore to include 7,910 tariff items, which were covered under MEIS. But DoC suggested that such a move will give an impression that RoDTEP is just a re-instrumentation of the MEIS in a new form.
“This risks RoDTEP scheme being dragged to the World-Trade Organisation (WTO) ab-initio,” the department wrote in its recommendations to the committee of secretaries for RoDTEP, accessed by ET.
Limiting the outgo of the scheme to Rs 13,000 crore would have required either imposition of cap per exporter per annum, as was done under MEIS last year, or exclusion of certain sectors or scaling down the remission rates.
A cabinet note is likely to be floated this week and the final announcement may be made in 15 days, people close to the matter told ET.
DoC has suggested increasing the financial outlay by Rs 7000 crore will provide benefits to all the 11,310 harmonized system (HS) code lines including companies approved under the Production-Linked Incentive<\/a> (PLI) scheme, advance authorization beneficiaries, special economic zones and export-oriented units without putting a large fiscal pressure on the government. HS is a code assigned for every single item which is traded, from components to finished goods.
This would fully delink RoDTEP with MEIS and allay any legal and technical concerns that trading partners may have and best serve the interests of small exporters in a fair and non-discriminatory manner, the recommendations said. This would also support the exporters to overcome the challenges of post-Covid recessionary world.
Read also<\/h4><\/a><\/figure>State govt, cities committing big mistake by looking at revenue from telecom infra: DoT joint secy<\/a><\/h5><\/div><\/a><\/figure>RoDTEP announcement likely in 2 weeks: DGFT<\/a><\/h5><\/div><\/div><\/div>
RoDTEP, effective from January 1, 2021, is a tax refund scheme which remits the taxes and levies borne by exporters as percentage of value of goods exported. The simple principle is ‘taxes and duties should not be exported’.
It was formed after the WTO ruled against India<\/a> that the MEIS is incompatible with world trade norms and must be pulled out.
According to industry sources, mobile phone exporters are likely to be assigned a remission rate between 0.5% and 0.8%, which is sharply less than the 4% which MEIS used to offer. This will impact the cash flows of PLI-approved companies like Apple<\/a> phone makers Foxconn<\/a> and Wistron<\/a> besides Samsung<\/a>, which have huge export targets, said experts.
Overall, given that the budget of RoDTEP at Rs 13,000 crore is modest compared to Rs 50,000 crore of MEIS, all export sectors are likely to get very low compensation rates, they added.
<\/body>","next_sibling":[{"msid":83563312,"title":"Videocon insolvency: Creditors to take 96% haircut on dues; NCLT requests increase in pay-out","entity_type":"ARTICLE","link":"\/news\/videocon-insolvency-creditors-to-take-96-haircut-on-dues-nclt-requests-increase-in-pay-out\/83563312","category_name":null,"category_name_seo":"telecomnews"}],"related_content":[],"msid":83563381,"entity_type":"ARTICLE","title":"Commerce department pushes for increasing RoDTEP budget","synopsis":"The Department of Revenue had set the annual financial outlay at Rs 13,000 crore to include 7,910 tariff items, which were covered under MEIS. But DoC suggested that such a move will give an impression that RoDTEP is just a re-instrumentation of the MEIS in a new form.","titleseo":"telecomnews\/commerce-department-pushes-for-increasing-rodtep-budget","status":"ACTIVE","authors":[{"author_name":"Himanshi Lohchab","author_link":"\/author\/479253129\/himanshi-lohchab","author_image":"https:\/\/etimg.etb2bimg.com\/authorthumb\/479253129.cms?width=100&height=100","author_additional":{"thumbsize":false,"msid":479253129,"author_name":"Himanshi Lohchab","author_seo_name":"himanshi-lohchab","designation":"Journalist","agency":false}}],"analytics":{"comments":0,"views":495,"shares":0,"engagementtimems":1750000},"Alttitle":{"minfo":""},"artag":"ETTelecom","artdate":"2021-06-16 09:34:02","lastupd":"2021-06-16 09:34:02","breadcrumbTags":["Department of Commerce","apple","Samsung","WTO","Wistron","Foxconn","Commerce Department","India","production-linked incentive","policy"],"secinfo":{"seolocation":"telecomnews\/commerce-department-pushes-for-increasing-rodtep-budget"}}" data-news_link="//www.iser-br.com/news/commerce-department-pushes-for-increasing-rodtep-budget/83563381">
<\/a><\/figure>State govt, cities committing big mistake by looking at revenue from telecom infra: DoT joint secy<\/a><\/h5><\/div><\/a><\/figure>RoDTEP announcement likely in 2 weeks: DGFT<\/a><\/h5><\/div><\/div><\/div>
RoDTEP, effective from January 1, 2021, is a tax refund scheme which remits the taxes and levies borne by exporters as percentage of value of goods exported. The simple principle is ‘taxes and duties should not be exported’.
It was formed after the WTO ruled against India<\/a> that the MEIS is incompatible with world trade norms and must be pulled out.
According to industry sources, mobile phone exporters are likely to be assigned a remission rate between 0.5% and 0.8%, which is sharply less than the 4% which MEIS used to offer. This will impact the cash flows of PLI-approved companies like Apple<\/a> phone makers Foxconn<\/a> and Wistron<\/a> besides Samsung<\/a>, which have huge export targets, said experts.
Overall, given that the budget of RoDTEP at Rs 13,000 crore is modest compared to Rs 50,000 crore of MEIS, all export sectors are likely to get very low compensation rates, they added.
<\/body>","next_sibling":[{"msid":83563312,"title":"Videocon insolvency: Creditors to take 96% haircut on dues; NCLT requests increase in pay-out","entity_type":"ARTICLE","link":"\/news\/videocon-insolvency-creditors-to-take-96-haircut-on-dues-nclt-requests-increase-in-pay-out\/83563312","category_name":null,"category_name_seo":"telecomnews"}],"related_content":[],"msid":83563381,"entity_type":"ARTICLE","title":"Commerce department pushes for increasing RoDTEP budget","synopsis":"The Department of Revenue had set the annual financial outlay at Rs 13,000 crore to include 7,910 tariff items, which were covered under MEIS. But DoC suggested that such a move will give an impression that RoDTEP is just a re-instrumentation of the MEIS in a new form.","titleseo":"telecomnews\/commerce-department-pushes-for-increasing-rodtep-budget","status":"ACTIVE","authors":[{"author_name":"Himanshi Lohchab","author_link":"\/author\/479253129\/himanshi-lohchab","author_image":"https:\/\/etimg.etb2bimg.com\/authorthumb\/479253129.cms?width=100&height=100","author_additional":{"thumbsize":false,"msid":479253129,"author_name":"Himanshi Lohchab","author_seo_name":"himanshi-lohchab","designation":"Journalist","agency":false}}],"analytics":{"comments":0,"views":495,"shares":0,"engagementtimems":1750000},"Alttitle":{"minfo":""},"artag":"ETTelecom","artdate":"2021-06-16 09:34:02","lastupd":"2021-06-16 09:34:02","breadcrumbTags":["Department of Commerce","apple","Samsung","WTO","Wistron","Foxconn","Commerce Department","India","production-linked incentive","policy"],"secinfo":{"seolocation":"telecomnews\/commerce-department-pushes-for-increasing-rodtep-budget"}}" data-authors="[" himanshi lohchab"]" data-category-name="" data-category_id="" data-date="2021-06-16" data-index="article_1">
- Telecom乐动扑克News
- 2分钟阅读
商务部推动RoDTEP增加预算
收入的部门设置年度财务费用包括7910项关税13000卢比,多企业信息系统覆盖下。但医生建议,这样的举动会给人一个印象,RoDTEP只是一个re-instrumentation多企业信息系统的一种新形式。
新德里:商务部(DoC)建议增加预算的缓解出口产品的关税和税收计划(RoDTEP) 20000卢比到11310年覆盖所有关税额度和消除任何法律问题,它是一个纯粹的更换世贸组织不一致的商品出口激励方案(说)。
收入的部门设置年度财务费用包括7910项关税13000卢比,多企业信息系统覆盖下。但医生建议,这样的举动会给人一个印象,RoDTEP只是一个re-instrumentation多企业信息系统的一种新形式。
“这风险RoDTEP计划被拖向世界贸易组织(WTO)从头开始,“部门写的建议为RoDTEP委员会秘书,访问等。
限制计划13000卢比的支出需要每年征收帽/出口国,去年多企业信息系统下完成,或排除某些行业或缩小缓解率。
内阁本周注意可能会提出,最后宣布可能在15天,知情人士告诉等。
医生建议金融支出增加7000卢比将提供所有11310人协调系统(HS)代码行包括公司批准下根据激励(PLI)计划,预先授权受益人,经济特区和出口导向型单位没有给政府很大的财政压力。HS是代码分配每一项交易,从组件到成品。
这将完全脱钩RoDTEP MEIS和消除任何法律和技术问题,贸易伙伴可能和最佳服务于小型出口企业的利益在一个公平的和非歧视性的方式,建议说。这也支持出口商要克服的挑战post-Covid衰退的世界。
RoDTEP,有效的从2021年1月1日,是一个融汇的退税计划捐税由出口商出口货物价值的百分比。简单的原则是“不应出口税和关税”。
成立后,世贸组织的裁定印度多企业信息系统,是不符合世界贸易规范,必须退出。
据业内人士称,手机出口商可能会分配一个缓解率在0.5%和0.8%之间,这是大幅低于4%多企业信息系统的使用。这将影响PLI-approved公司的现金流苹果手机制造商富士康和纬创资通除了三星有巨大的出口目标,专家说。
总的来说,考虑到预算在13000卢比RoDTEP相比是适度MEIS 50000卢比,所有出口行业有可能得到补偿率很低,他们补充说。
<\/span><\/figcaption><\/figure>New Delhi: The Department of Commerce<\/a> (DoC) has recommended increasing the budget of the Remission of Duties and Taxes on Export Products (RoDTEP) scheme to Rs 20,000 crore to cover all 11,310 tariff lines and allay any legal concerns that it is a mere replacement of the WTO<\/a> non-compliant Merchandise Export Incentive Scheme (MEIS).
The Department of Revenue had set the annual financial outlay at Rs 13,000 crore to include 7,910 tariff items, which were covered under MEIS. But DoC suggested that such a move will give an impression that RoDTEP is just a re-instrumentation of the MEIS in a new form.
“This risks RoDTEP scheme being dragged to the World-Trade Organisation (WTO) ab-initio,” the department wrote in its recommendations to the committee of secretaries for RoDTEP, accessed by ET.
Limiting the outgo of the scheme to Rs 13,000 crore would have required either imposition of cap per exporter per annum, as was done under MEIS last year, or exclusion of certain sectors or scaling down the remission rates.
A cabinet note is likely to be floated this week and the final announcement may be made in 15 days, people close to the matter told ET.
DoC has suggested increasing the financial outlay by Rs 7000 crore will provide benefits to all the 11,310 harmonized system (HS) code lines including companies approved under the Production-Linked Incentive<\/a> (PLI) scheme, advance authorization beneficiaries, special economic zones and export-oriented units without putting a large fiscal pressure on the government. HS is a code assigned for every single item which is traded, from components to finished goods.
This would fully delink RoDTEP with MEIS and allay any legal and technical concerns that trading partners may have and best serve the interests of small exporters in a fair and non-discriminatory manner, the recommendations said. This would also support the exporters to overcome the challenges of post-Covid recessionary world.
Read also<\/h4><\/a><\/figure>State govt, cities committing big mistake by looking at revenue from telecom infra: DoT joint secy<\/a><\/h5><\/div><\/a><\/figure>RoDTEP announcement likely in 2 weeks: DGFT<\/a><\/h5><\/div><\/div><\/div>
RoDTEP, effective from January 1, 2021, is a tax refund scheme which remits the taxes and levies borne by exporters as percentage of value of goods exported. The simple principle is ‘taxes and duties should not be exported’.
It was formed after the WTO ruled against India<\/a> that the MEIS is incompatible with world trade norms and must be pulled out.
According to industry sources, mobile phone exporters are likely to be assigned a remission rate between 0.5% and 0.8%, which is sharply less than the 4% which MEIS used to offer. This will impact the cash flows of PLI-approved companies like Apple<\/a> phone makers Foxconn<\/a> and Wistron<\/a> besides Samsung<\/a>, which have huge export targets, said experts.
Overall, given that the budget of RoDTEP at Rs 13,000 crore is modest compared to Rs 50,000 crore of MEIS, all export sectors are likely to get very low compensation rates, they added.
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<\/a><\/figure>RoDTEP announcement likely in 2 weeks: DGFT<\/a><\/h5><\/div><\/div><\/div>
RoDTEP, effective from January 1, 2021, is a tax refund scheme which remits the taxes and levies borne by exporters as percentage of value of goods exported. The simple principle is ‘taxes and duties should not be exported’.
It was formed after the WTO ruled against India<\/a> that the MEIS is incompatible with world trade norms and must be pulled out.
According to industry sources, mobile phone exporters are likely to be assigned a remission rate between 0.5% and 0.8%, which is sharply less than the 4% which MEIS used to offer. This will impact the cash flows of PLI-approved companies like Apple<\/a> phone makers Foxconn<\/a> and Wistron<\/a> besides Samsung<\/a>, which have huge export targets, said experts.
Overall, given that the budget of RoDTEP at Rs 13,000 crore is modest compared to Rs 50,000 crore of MEIS, all export sectors are likely to get very low compensation rates, they added.
<\/body>","next_sibling":[{"msid":83563312,"title":"Videocon insolvency: Creditors to take 96% haircut on dues; NCLT requests increase in pay-out","entity_type":"ARTICLE","link":"\/news\/videocon-insolvency-creditors-to-take-96-haircut-on-dues-nclt-requests-increase-in-pay-out\/83563312","category_name":null,"category_name_seo":"telecomnews"}],"related_content":[],"msid":83563381,"entity_type":"ARTICLE","title":"Commerce department pushes for increasing RoDTEP budget","synopsis":"The Department of Revenue had set the annual financial outlay at Rs 13,000 crore to include 7,910 tariff items, which were covered under MEIS. But DoC suggested that such a move will give an impression that RoDTEP is just a re-instrumentation of the MEIS in a new form.","titleseo":"telecomnews\/commerce-department-pushes-for-increasing-rodtep-budget","status":"ACTIVE","authors":[{"author_name":"Himanshi Lohchab","author_link":"\/author\/479253129\/himanshi-lohchab","author_image":"https:\/\/etimg.etb2bimg.com\/authorthumb\/479253129.cms?width=100&height=100","author_additional":{"thumbsize":false,"msid":479253129,"author_name":"Himanshi Lohchab","author_seo_name":"himanshi-lohchab","designation":"Journalist","agency":false}}],"analytics":{"comments":0,"views":495,"shares":0,"engagementtimems":1750000},"Alttitle":{"minfo":""},"artag":"ETTelecom","artdate":"2021-06-16 09:34:02","lastupd":"2021-06-16 09:34:02","breadcrumbTags":["Department of Commerce","apple","Samsung","WTO","Wistron","Foxconn","Commerce Department","India","production-linked incentive","policy"],"secinfo":{"seolocation":"telecomnews\/commerce-department-pushes-for-increasing-rodtep-budget"}}" data-authors="[" himanshi lohchab"]" data-category-name="" data-category_id="" data-date="2021-06-16" data-index="article_1">
- Telecom乐动扑克News
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商务部推动RoDTEP增加预算
收入的部门设置年度财务费用包括7910项关税13000卢比,多企业信息系统覆盖下。但医生建议,这样的举动会给人一个印象,RoDTEP只是一个re-instrumentation多企业信息系统的一种新形式。
新德里:商务部(DoC)建议增加预算的缓解出口产品的关税和税收计划(RoDTEP) 20000卢比到11310年覆盖所有关税额度和消除任何法律问题,它是一个纯粹的更换世贸组织不一致的商品出口激励方案(说)。
收入的部门设置年度财务费用包括7910项关税13000卢比,多企业信息系统覆盖下。但医生建议,这样的举动会给人一个印象,RoDTEP只是一个re-instrumentation多企业信息系统的一种新形式。
“这风险RoDTEP计划被拖向世界贸易组织(WTO)从头开始,“部门写的建议为RoDTEP委员会秘书,访问等。
限制计划13000卢比的支出需要每年征收帽/出口国,去年多企业信息系统下完成,或排除某些行业或缩小缓解率。
内阁本周注意可能会提出,最后宣布可能在15天,知情人士告诉等。
医生建议金融支出增加7000卢比将提供所有11310人协调系统(HS)代码行包括公司批准下根据激励(PLI)计划,预先授权受益人,经济特区和出口导向型单位没有给政府很大的财政压力。HS是代码分配每一项交易,从组件到成品。
这将完全脱钩RoDTEP MEIS和消除任何法律和技术问题,贸易伙伴可能和最佳服务于小型出口企业的利益在一个公平的和非歧视性的方式,建议说。这也支持出口商要克服的挑战post-Covid衰退的世界。
RoDTEP,有效的从2021年1月1日,是一个融汇的退税计划捐税由出口商出口货物价值的百分比。简单的原则是“不应出口税和关税”。
成立后,世贸组织的裁定印度多企业信息系统,是不符合世界贸易规范,必须退出。
据业内人士称,手机出口商可能会分配一个缓解率在0.5%和0.8%之间,这是大幅低于4%多企业信息系统的使用。这将影响PLI-approved公司的现金流苹果手机制造商富士康和纬创资通除了三星有巨大的出口目标,专家说。
总的来说,考虑到预算在13000卢比RoDTEP相比是适度MEIS 50000卢比,所有出口行业有可能得到补偿率很低,他们补充说。
<\/span><\/figcaption><\/figure>New Delhi: The Department of Commerce<\/a> (DoC) has recommended increasing the budget of the Remission of Duties and Taxes on Export Products (RoDTEP) scheme to Rs 20,000 crore to cover all 11,310 tariff lines and allay any legal concerns that it is a mere replacement of the WTO<\/a> non-compliant Merchandise Export Incentive Scheme (MEIS).
The Department of Revenue had set the annual financial outlay at Rs 13,000 crore to include 7,910 tariff items, which were covered under MEIS. But DoC suggested that such a move will give an impression that RoDTEP is just a re-instrumentation of the MEIS in a new form.
“This risks RoDTEP scheme being dragged to the World-Trade Organisation (WTO) ab-initio,” the department wrote in its recommendations to the committee of secretaries for RoDTEP, accessed by ET.
Limiting the outgo of the scheme to Rs 13,000 crore would have required either imposition of cap per exporter per annum, as was done under MEIS last year, or exclusion of certain sectors or scaling down the remission rates.
A cabinet note is likely to be floated this week and the final announcement may be made in 15 days, people close to the matter told ET.
DoC has suggested increasing the financial outlay by Rs 7000 crore will provide benefits to all the 11,310 harmonized system (HS) code lines including companies approved under the Production-Linked Incentive<\/a> (PLI) scheme, advance authorization beneficiaries, special economic zones and export-oriented units without putting a large fiscal pressure on the government. HS is a code assigned for every single item which is traded, from components to finished goods.
This would fully delink RoDTEP with MEIS and allay any legal and technical concerns that trading partners may have and best serve the interests of small exporters in a fair and non-discriminatory manner, the recommendations said. This would also support the exporters to overcome the challenges of post-Covid recessionary world.
Read also<\/h4><\/a><\/figure>State govt, cities committing big mistake by looking at revenue from telecom infra: DoT joint secy<\/a><\/h5><\/div><\/a><\/figure>RoDTEP announcement likely in 2 weeks: DGFT<\/a><\/h5><\/div><\/div><\/div>
RoDTEP, effective from January 1, 2021, is a tax refund scheme which remits the taxes and levies borne by exporters as percentage of value of goods exported. The simple principle is ‘taxes and duties should not be exported’.
It was formed after the WTO ruled against India<\/a> that the MEIS is incompatible with world trade norms and must be pulled out.
According to industry sources, mobile phone exporters are likely to be assigned a remission rate between 0.5% and 0.8%, which is sharply less than the 4% which MEIS used to offer. This will impact the cash flows of PLI-approved companies like Apple<\/a> phone makers Foxconn<\/a> and Wistron<\/a> besides Samsung<\/a>, which have huge export targets, said experts.
Overall, given that the budget of RoDTEP at Rs 13,000 crore is modest compared to Rs 50,000 crore of MEIS, all export sectors are likely to get very low compensation rates, they added.
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商务部推动RoDTEP增加预算
收入的部门设置年度财务费用包括7910项关税13000卢比,多企业信息系统覆盖下。但医生建议,这样的举动会给人一个印象,RoDTEP只是一个re-instrumentation多企业信息系统的一种新形式。
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收入的部门设置年度财务费用包括7910项关税13000卢比,多企业信息系统覆盖下。但医生建议,这样的举动会给人一个印象,RoDTEP只是一个re-instrumentation多企业信息系统的一种新形式。
“这风险RoDTEP计划被拖向世界贸易组织(WTO)从头开始,“部门写的建议为RoDTEP委员会秘书,访问等。
限制计划13000卢比的支出需要每年征收帽/出口国,去年多企业信息系统下完成,或排除某些行业或缩小缓解率。
内阁本周注意可能会提出,最后宣布可能在15天,知情人士告诉等。
医生建议金融支出增加7000卢比将提供所有11310人协调系统(HS)代码行包括公司批准下根据激励(PLI)计划,预先授权受益人,经济特区和出口导向型单位没有给政府很大的财政压力。HS是代码分配每一项交易,从组件到成品。
这将完全脱钩RoDTEP MEIS和消除任何法律和技术问题,贸易伙伴可能和最佳服务于小型出口企业的利益在一个公平的和非歧视性的方式,建议说。这也支持出口商要克服的挑战post-Covid衰退的世界。
RoDTEP,有效的从2021年1月1日,是一个融汇的退税计划捐税由出口商出口货物价值的百分比。简单的原则是“不应出口税和关税”。
成立后,世贸组织的裁定印度多企业信息系统,是不符合世界贸易规范,必须退出。
据业内人士称,手机出口商可能会分配一个缓解率在0.5%和0.8%之间,这是大幅低于4%多企业信息系统的使用。这将影响PLI-approved公司的现金流苹果手机制造商富士康和纬创资通除了三星有巨大的出口目标,专家说。
总的来说,考虑到预算在13000卢比RoDTEP相比是适度MEIS 50000卢比,所有出口行业有可能得到补偿率很低,他们补充说。
The Department of Revenue had set the annual financial outlay at Rs 13,000 crore to include 7,910 tariff items, which were covered under MEIS. But DoC suggested that such a move will give an impression that RoDTEP is just a re-instrumentation of the MEIS in a new form.
“This risks RoDTEP scheme being dragged to the World-Trade Organisation (WTO) ab-initio,” the department wrote in its recommendations to the committee of secretaries for RoDTEP, accessed by ET.
Limiting the outgo of the scheme to Rs 13,000 crore would have required either imposition of cap per exporter per annum, as was done under MEIS last year, or exclusion of certain sectors or scaling down the remission rates.
A cabinet note is likely to be floated this week and the final announcement may be made in 15 days, people close to the matter told ET.
DoC has suggested increasing the financial outlay by Rs 7000 crore will provide benefits to all the 11,310 harmonized system (HS) code lines including companies approved under the Production-Linked Incentive<\/a> (PLI) scheme, advance authorization beneficiaries, special economic zones and export-oriented units without putting a large fiscal pressure on the government. HS is a code assigned for every single item which is traded, from components to finished goods.
This would fully delink RoDTEP with MEIS and allay any legal and technical concerns that trading partners may have and best serve the interests of small exporters in a fair and non-discriminatory manner, the recommendations said. This would also support the exporters to overcome the challenges of post-Covid recessionary world.
Read also<\/h4><\/a><\/figure>State govt, cities committing big mistake by looking at revenue from telecom infra: DoT joint secy<\/a><\/h5><\/div><\/a><\/figure>RoDTEP announcement likely in 2 weeks: DGFT<\/a><\/h5><\/div><\/div><\/div>
RoDTEP, effective from January 1, 2021, is a tax refund scheme which remits the taxes and levies borne by exporters as percentage of value of goods exported. The simple principle is ‘taxes and duties should not be exported’.
It was formed after the WTO ruled against India<\/a> that the MEIS is incompatible with world trade norms and must be pulled out.
According to industry sources, mobile phone exporters are likely to be assigned a remission rate between 0.5% and 0.8%, which is sharply less than the 4% which MEIS used to offer. This will impact the cash flows of PLI-approved companies like Apple<\/a> phone makers Foxconn<\/a> and Wistron<\/a> besides Samsung<\/a>, which have huge export targets, said experts.
Overall, given that the budget of RoDTEP at Rs 13,000 crore is modest compared to Rs 50,000 crore of MEIS, all export sectors are likely to get very low compensation rates, they added.
<\/body>","next_sibling":[{"msid":83563312,"title":"Videocon insolvency: Creditors to take 96% haircut on dues; NCLT requests increase in pay-out","entity_type":"ARTICLE","link":"\/news\/videocon-insolvency-creditors-to-take-96-haircut-on-dues-nclt-requests-increase-in-pay-out\/83563312","category_name":null,"category_name_seo":"telecomnews"}],"related_content":[],"msid":83563381,"entity_type":"ARTICLE","title":"Commerce department pushes for increasing RoDTEP budget","synopsis":"The Department of Revenue had set the annual financial outlay at Rs 13,000 crore to include 7,910 tariff items, which were covered under MEIS. But DoC suggested that such a move will give an impression that RoDTEP is just a re-instrumentation of the MEIS in a new form.","titleseo":"telecomnews\/commerce-department-pushes-for-increasing-rodtep-budget","status":"ACTIVE","authors":[{"author_name":"Himanshi Lohchab","author_link":"\/author\/479253129\/himanshi-lohchab","author_image":"https:\/\/etimg.etb2bimg.com\/authorthumb\/479253129.cms?width=100&height=100","author_additional":{"thumbsize":false,"msid":479253129,"author_name":"Himanshi Lohchab","author_seo_name":"himanshi-lohchab","designation":"Journalist","agency":false}}],"analytics":{"comments":0,"views":495,"shares":0,"engagementtimems":1750000},"Alttitle":{"minfo":""},"artag":"ETTelecom","artdate":"2021-06-16 09:34:02","lastupd":"2021-06-16 09:34:02","breadcrumbTags":["Department of Commerce","apple","Samsung","WTO","Wistron","Foxconn","Commerce Department","India","production-linked incentive","policy"],"secinfo":{"seolocation":"telecomnews\/commerce-department-pushes-for-increasing-rodtep-budget"}}" data-news_link="//www.iser-br.com/news/commerce-department-pushes-for-increasing-rodtep-budget/83563381">
<\/a><\/figure>State govt, cities committing big mistake by looking at revenue from telecom infra: DoT joint secy<\/a><\/h5><\/div><\/a><\/figure>RoDTEP announcement likely in 2 weeks: DGFT<\/a><\/h5><\/div><\/div><\/div>
RoDTEP, effective from January 1, 2021, is a tax refund scheme which remits the taxes and levies borne by exporters as percentage of value of goods exported. The simple principle is ‘taxes and duties should not be exported’.
It was formed after the WTO ruled against India<\/a> that the MEIS is incompatible with world trade norms and must be pulled out.
According to industry sources, mobile phone exporters are likely to be assigned a remission rate between 0.5% and 0.8%, which is sharply less than the 4% which MEIS used to offer. This will impact the cash flows of PLI-approved companies like Apple<\/a> phone makers Foxconn<\/a> and Wistron<\/a> besides Samsung<\/a>, which have huge export targets, said experts.
Overall, given that the budget of RoDTEP at Rs 13,000 crore is modest compared to Rs 50,000 crore of MEIS, all export sectors are likely to get very low compensation rates, they added.
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<\/a><\/figure>
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