Exporters seek extension of restored RoDTEP rates

COIMBATORE: Exporters have welcomed the restoration of RoDTEP (Remission of Duties and Taxes on Exported Products) rates but termed it only a short-term relief. They urged the Centre to extend the tax refund scheme without any timeline to prevent export of embedded taxes and sustain export performance. This is essential amid ongoing geopolitical tensions and LPG shortages, according to them. The RoDTEP scheme, introduced in January 2021, aims at refunding unrebated embedded taxes and enhancing global competitiveness. Southern India Mills Association (SIMA) chairman Durai Palanisamy thanked Prime Minister Narendra Modi, Union finance minister Nirmala Sitharaman, commerce minister Piyush Goyal and…