Home / Knowledge / News / Policy / All tax refunds under India's new export scheme seem tough

All tax refunds under India's new export scheme seem tough

Sep '19
Pic: Shutterstock
Pic: Shutterstock
As India works on an ‘export package’, it may not be possible to shift all exports to the Rebate of State and Central Taxes and Levies (RoSCTL) scheme because of budget constraints. The government, instead, wants the commerce department to identify priority sectors that need more support. RoSCTL will replace the Merchandise Exports from India Scheme (MEIS).

The new scheme, put together by the commerce department after the United States dragged India’s export promotion programmes to the World Trade Organisation (WTO), is expected to be taken up by the cabinet soon, according to a report in a top English-language newspaper.

On an average, the government has estimated that the incidence of central and state levies added up to 4-5 per cent, which needed to be refunded. With merchandise exports estimated at over $330 billion, refund of levies would add up to over $16 billion or more than ₹1.1 lakh crore.

For the current fiscal, the government has budgeted for a revenue impact of ₹65,720 crore on account of all export-promotion schemes. Of this, MEIS is estimated to have an impact of ₹36,615 crore. Already, some of the goods and service tax (GST) is refunded to exporters.

The government recently released ₹6,000 crore for the textiles industry, while insisting that some of the other sops for exporters should be dropped. While the rebate scheme for all exporters is being finalised, the government is also working on ways to improve access to loans for which commerce and industry minister Piyush Goyal has held several round of deliberations.

The rebate scheme reportedly is almost ready and is expected to be announced shortly. (DS)

Fibre2Fashion News Desk – India

Interviews View All

Representatives, Textile & apparel industry

Textile & apparel industry

GST is a complicated and lengthy process

DK Sharma, Velocity Apparelz

DK Sharma
Velocity Apparelz

We constantly communicate with employees at all levels

Stefan Warnaar, Peak to Plateau

Stefan Warnaar
Peak to Plateau

People are willing to pay for quality and performance

Paolo Crespi,

Paolo Crespi

For.Tex is an Italy-based leading producer of dyes and thickeners, and is...

N Nithyanandan,

N Nithyanandan

Incorporated in 1999, Purani Textiless Private Limited is one of the...

Maya Simova,

Maya Simova

Inter Expo and Congress Center (IEC) is a prominent exhibition centre in...

Melissa Tate, University of New South Wales

Melissa Tate
University of New South Wales

<div><div><div><div><b>Melissa Tate</b>, a well-known scientist currently...

Ayyappa Nagubandi, Broadcast Wearables Pvt Ltd

Ayyappa Nagubandi
Broadcast Wearables Pvt Ltd

Hyderabad-based Broadcast Wearables has come up with the country's first...

Robert Brookins, Alexium International

Robert Brookins
Alexium International

Alexium International is a specialty chemical development company...

Seema Agrawal, Artisan Saga

Seema Agrawal
Artisan Saga

Artisan Saga, founded by Kaushik Rajani and Seema Agrawal, is an online...

Akta Adani, India Boulevard

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Hemant & Nandita, Hemant & Nandita

Hemant & Nandita
Hemant & Nandita

The designer duo of Hemant &amp; Nandita are known for being inspired by...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


Leave your Comments

September 2019

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category

Related Categories:

Advanced Search