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Cabinet approves extension of rebate in taxes on export of garments and made-ups

Capital Market 

Expect to make textile sector competitive by rebating all taxes/levies which are currently not being rebated under any other mechanism

The Union Cabinet chaired by the Prime Minister, Narendra Modi has given its approval for continuation of Rebate of State and Central Taxes and Levies (RoSCTL) from 1 April 2020 onward until such time that the scheme is merged with Remission of Duties and Taxes on Exported Products (RoDTEP).

RoSCTL scheme for apparel and made-ups will be continued with effect from 1 April 2020 without any change in scheme guidelines and rates as notified by Ministry of Textiles till such time that the RoSCTL is merged with RoDTEP.

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

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, March 25 2020. 16:05 IST
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