ALSO READCommerce Ministry for exempting exports from GST GST to help improve India's exports: Sitharaman FIEO seeks uniform GST for leather and textile sectors Merchandise Exports from India Scheme being re-designed to make exports GST-compliant Tax refund to exporters under GST within seven days: Com Min
The scheme for Rebate of State Levies (RoSL), which aims at making garment exports competitive in the international market, is expected to undergo some changes in the Goods and Services Tax (GST) regime, a top official said here on Monday.
"It will probably undergo some changes because VAT (value added tax) is being subsumed under Goods and Services Tax (GST). It is being studied right now," Ministry of Textiles Joint Secretary Subrata Gupta told reporters here.
"Whatever be the loading on the industry in terms of state taxes... that is proposed to be offset... we sought views from the industry. Once they give their views, we will examine it," Gupta added.
The Union Cabinet, in June last year, had approved Rs 6,000 crore special package for employment generation and promotion of exports in the textile and apparel sector.
The special scheme for remission of state levies by the Textiles Ministry for three years was part of the package.
The ministry disbursed Rs 400 crore under RoSL to exporters in the last year and provisioned Rs 1,554 crore in the current fiscal for giving supports to the exporters, Gupta said.
The textile industry has already urged the government to continue with the RoSL for three years as committed in the package because the scheme has benefited the exports of garments.
"Exports of garments have gone up over 31 per cent in April this year, over corresponding month last year. This is due to interventions of the ministry," said Anil Buchasia, Chairman, AEPC (EP).
The ministry organised a roadshow in the city for the Textiles-India 2017 Fair which is to be held from June 30 to July 2 at Mahatma Mandir in Gandhinagar in Gujarat.
With an exhibition area of about 125,000 square metres, over 1,000 exhibitors are likely to showcase their products and services. More than 2,500 international and over 15,000 domestic buyers are expected to attend the show.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)