• Linkdin
Maximize your media exposure with Fibre2Fashion's single PR package  |   Know More

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

14 Jul '21
2 min read
Pic: Shutterstock
Pic: Shutterstock

Rebate of State and Central taxes and Levies (RoSCTL) on exports of apparel/garments and made-ups will continue as the Indian Cabinet chaired by Prime Minister Narendra Modi has given its approval. The RoSCTL will continue at the existing rates till March 31, 2024. This step will provide a level playing field to exporters and boost Indian textile exports.

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)

Leave your Comments

Esteemed Clients

Woolmark Services India Pvt. Ltd.
Weitmann & Konrad GmbH & Co. KG
VNU Exhibitions Asia
USTER
UBM China (Shanghai)
Tuyap Tum Fuarcilik Yapim A.S.
TÜYAP IHTISAS FUARLARI A.S.
Tradewind International Servicing
Thermore (Far East) Ltd.
The LYCRA Company Singapore  Pte. Ltd
Thai Trade Center
Thai Acrylic Fibre Company Limited
X
Advanced Search