Central Board of Indirect Taxes & Customs vice circular dated 26th of September, 2022 has revised the Electronic Duty Credit Ledger Regulations, 2021. The amendment seeks to revise the Scheme for Remission of Duties and Taxes on Exported Products (RoDTEP) and Rebate of State and Central Taxes and Levies (RoSCTL) Scheme.
The effect of these amendments is that the validity period of scrips issued under the RoDTEP and RoSCTL schemes is increased from one year to two years from the date of their generation. At the port, the exporters indicate in the shipping bill the details regarding the claim of the benefits under these schemes with regard to a particular item of export and generates a credit scrip for it. These credit scrips are then used to pay basic customs duties, claim rebates or can be transferred to other importers, as the case may be.
