Nagpur: In a significant move aimed at boosting exports from MIHAN (Multi-modal International Cargo Hub and Airport at Nagpur) and attracting entrepreneurs, the Maharashtra government under Deputy Chief Minister Devendra Fadnavis has announced tax relief for Special Economic Zones (SEZs) and Export-Oriented Units (EOUs).
Under the new policy, SEZs and EOUs will now be included in the RoDTEP (Remission of Duties and Taxes on Export Products) scheme, which provides subsidies ranging from 1% to 4% based on product categories. The decision will be implemented from June 1.
Until now, SEZs and EOUs were excluded from the benefits under RoDTEP. With this inclusion, products exported from these units will now be eligible for duty and tax remission benefits, bringing much-needed relief and incentives to exporters operating in these zones.
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The move is part of the central government’s ongoing efforts to enhance India’s competitiveness in global markets. Previously, SEZs and EOUs were left out of the RoDTEP framework, which was launched on January 1, 2021, in alignment with WTO norms to promote transparency and efficiency via a comprehensive end-to-end digital platform.
The decision follows recommendations by key industry bodies, including the Export Promotion Council, MIHAN Industries Association, ASSOCHAM, and FIEO (Federation of Indian Export Organizations), which had been lobbying for the inclusion of SEZs and EOUs under the RoDTEP benefits.
With this development, a level playing field is expected for all exporters across various sectors, giving a much-needed push to India’s export economy.
