How to File Annual Return for RODTEP Scheme

Annual Return for RODTEP (Remission of Duties and Taxes on Exported Products) is a compliance filing for exporters availing the remission under this scheme. Read this article for information on the RODTEP return filing.

Key Aspects of the Annual Return for RODTEP:

Purpose of the Annual Return:

The filing of the Annual RODTEP Return serves as proof of the utilization of RODTEP benefits by the exporter.
It is confirmed to the DGFT and other relevant authorities that the exporter has correctly claimed the RODTEP incentive and has complied with all export obligation requirements.
The annual return filing of the RODTEP application maintains the transparency of tax remission under the scheme.

Who is Required to File the Annual Return?

All exporters who claim RODTEP benefits through their export transactions are required to file the Annual Return.

This return must be filed annually, usually within a specific time frame set by the DGFT (often before the end of the financial year).
Contents of the Annual Return: The Annual Return typically includes:
Details of exports made under the RODTEP scheme during the year, including the value of exports, the specific products exported, and the corresponding shipping bills.
Amount of duties/taxes remitted for each export transaction under RODTEP, including a summary of all claims made during the year.
Export Obligation Status: A report on whether the exporter has met the export obligation (EO) associated with the RODTEP claims for the period.
Details of any discrepancies or adjustments made regarding RODTEP claims.

Supporting documents such as customs documents, shipping bills, export invoices, and proof of RODTEP claims.

If you want to claim Export GST Refund, contact us: Export GST Refund

Procedure for Filing the Annual Return

The exporter should maintain clear records of all exports made under the RODTEP scheme, along with the duties and taxes remitted.

The exporter is required to compile details of all export transactions, including specific shipping or customs bills eligible for RODTEP benefits.
Exporters must file the Annual Return online via the DGFT or Customs portal, as directed. All required details must be filled out and submitted before the deadline.
The DGFT authorities will review the return and validate export performance and RODTEP claims for clarity and compliance.

Deadline for Filing

Exporters are typically required to file the Annual Return within a specified period, often within 30 days of the end of the financial year or within a defined period in the next fiscal year (depending on the official notifications from DGFT).

Importance of Filing the Annual Return

Compliance: Ensures that exporters comply with the Foreign Trade Policy (FTP) and the terms of the RODTEP scheme.

Transparency: Helps maintain transparency and accountability regarding the claim of duty remission.

Audit and Inspection: The Annual Return is used by authorities for audit purposes to track the use of RODTEP benefits and verify that exporters are not misusing the system.

Continuity of Benefits: Timely filing of the return is often a prerequisite for continued eligibility to claim RODTEP benefits in subsequent years.

Penalties for Non-Compliance

Failure to file the Annual Return of RODTEP on time can lead to penalties, including the suspension of RODTEP claims for exports.
If discrepancies are found during audits or the verification process, the exporter may face investigations and revocation of benefits.
Relevant DGFT’s Notification/Public Notice/Trade Notice in relation to filing of Annual ROTEP Return.

Conclusion

The Annual Return for RODTEP is an essential compliance mechanism designed to ensure that exporters who benefit from the RODTEP scheme are adhering to its conditions and are transparent about their exports and tax refunds. It provides a means for the DGFT and Customs authorities to monitor the scheme’s implementation, track the fulfillment of export obligations, and maintain accountability.