Garment and made-up exporters to get ROSL arrears
#GS2 #Governance #Schemes
DGFT to issue duty credit scrips worth ₹464 crore
- Garment and made-up exporters who have Rebate of State Levies (ROSL) Scheme arrears will receive it in the form of scrips, according to a Department of Revenue communication.
Rebate of State Levies (ROSL):
- Rebate of all Embedded State and Central taxes/levies for apparel and made-ups segments would make exports zero-rated, thereby boosting India’s competitiveness in export markets and ensure equitable and inclusive growth of textile and apparel sector.
- In the ROSL scheme, the Central Govt. provides rebate of State levies comprising of State VAT/CST on inputs including packaging, fuel, duty on electricity generation and duties and charges on purchase of grid power as accumulated through the stages of production from yarn to finished made-ups.
- There is no need for separate application or supporting documents except for making a specific choice in the Shipping bill.
- The rebate amount would be credited into the Exporter’s A/C mentioned for drawback automatically after processing.
- The ROSL scheme is not mandatory for an exporter.
- Therefore, an exporter has to make a conscious choice to opt for the ROSL scheme by making a claim for rebate in acceptance terms and conditions of the ROSL scheme (including under the aforementioned Circular) along with a declaration of eligibility for the rate and rebate.