India extends RoSCTL on apparel & made-ups export till March 2024

RoSCTL will continue with the same rates as notified by the ministry of textiles vide Notification dated March 8, 2019; w.e.f January 1, 2021 on exports of apparel/garments (Chapters-61 & 62) and made-ups (Chapter-63) in exclusion from Remission of Duties and Taxes on Exported Products (RoDTEP) scheme for these chapters.

"The other textiles products (excluding Chapters-61, 62 & 63) which are not covered under the RoSCTL shall be eligible to avail the benefits, if any, under RoDTEP along with other products as finalised by department of commerce from the dates which shall be notified in this regard," an official release said.

The scheme shall be implemented by the department of revenue with end to end digitisation for issuance of transferrable Duty Credit Scrip, which will be maintained in an electronic ledger in the Customs system, the release added.

Revised guidelines for continuation and implementation of the RoSCTL scheme shall be prepared by the ministry of textiles in consultation with the department of revenue with necessary flexibilities to fine-tune the operational details, implementation modalities and scheduling etc.

Continuation of RoSCTL for apparel/garments (Chapter-61 & 62) and made-ups (Chapter-63) is expected to make these products globally competitive by rebating all embedded taxes/levies which are currently not being rebated under any other mechanism.

"It is anticipated that the continuation of RoSCTL scheme is likely to help apparel, garment and made-ups segment by way of additional investment and give direct and indirect employment to lakhs and lakhs of persons especially women," the release said.

Fibre2Fashion News Desk (RKS)