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Cabinet extends RoSCTL on garment & made-ups exports

25
Mar '20
Pic: Shutterstock
Pic: Shutterstock
The Union Cabinet chaired by Prime Minister Narendra Modi has given its approval for continuation of Rebate of State and Central Taxes and Levies (RoSCTL) from April 1, 2020 onward until such time that the scheme is merged with Remission of Duties and Taxes on Exported Products (RoDTEP). The date for implementation of RoDTEP is yet to be announced.

"RoSCTL scheme for apparel and made-ups will be continued with effect from April 1, 2020 without any change in scheme guidelines and rates as notified by the ministry of textiles till such time that the RoSCTL is merged with RoDTEP," an official statement said.

Under RoDTEP, an inter-ministerial committee will determine the rates and items for which the reimbursement of taxes and duties would be offered. In line with the ‘Digital India’ project, refund under the scheme, in the form of transferable duty credit/electronic scrip will be issued to the exporters, which will be maintained in an electronic ledger.

Continuation of RoSCTL beyond March 31, 2020 is expected to make the textile sector competitive by rebating all taxes/levies which are currently not being rebated under any other mechanism.

Fibre2Fashion News Desk (RKS)


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