BANKING AFFAIRS

BANKING GENERAL KNOWLEDGE

Please wait while the activity loads.
If this activity does not load, try refreshing your browser. Also, this page requires javascript. Please visit using a browser with javascript enabled.

If loading fails, click here to try again

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

It was pointed out that the ROSL has increased exports of readymade garments (man-made fibers) by about 16 per cent but not of others. What is the meaning of “L” in ROSL?

A	Least
B	Level
C	Levies
D	Labour

Explanation:

Detailed explanation-1: -given by exporters for processing claims of Duty Drawback and Rebate of State Levies (RoSL) Scheme.

Detailed explanation-2: -The RoSCTL benefit would be calculated in System as per the calculation logic as notified in the DOR Notification No. 77/2021-Customs (N.T.) dated 24.09. 2021 i.e. on value equal to declared export FOB value of the said goods or up to 1.5 times the market price of the said goods, whichever is less.

Detailed explanation-3: -What is Rebate of State and Central Levies and Taxes (RoSCTL) Scheme. Scheme to rebate all embedded State and Central Taxes/levies for meant for exports of made-up articles & garments.

Detailed explanation-4: -ROSL Sanctioned Status. Note: Please ensure that your bank account details are correctly recorded in the customs system for timely credit into your account. For any enquiry in connection with non-credit of the rosl amount, please contact the concerned custom location and/or the concerned bank.

There is 1 question to complete.