 "Machinery")
Export-focussed sectors are unhappy with the guidelines and the tax-refund rates the government has announced under the Remission of Duties and Taxes on Exported Products (RoDTEP) scheme that replaced the existing Merchandise Exports from India Scheme (MEIS).
The refund rates under RoDTEP will vary between 0.5 per cent and 4.3 per cent of the export value of goods across marine, agriculture, leather, gems and jewellery, automobile, plastics, electrical, electronics, and machinery sectors. The industry associations representing these sectors rued that the rates are lower than what companies enjoyed under the now discontinued MEIS scheme.
Take automobiles for instance. Besides a
