CURRENT AFFAIRS

Detailed explanation-1: -The Scheme for Rebate of State and Central Taxes and Levies (RoSCTL) will continue for export of garments, apparels, and made-ups till March 31, 2024, according to a press release from the Union Ministry of Textiles.

Detailed explanation-2: -What is RoSCTL Scheme? RoSCTL stands for Rebate of State and Central Taxes and Levies (RoSCTL). It is an export incentive in the form of transferable and sellable duty credit scrips (certificate) offered on the basis of the value of the export.

Detailed explanation-3: -What is RoSCTL scheme? The Rebate of State and Central Taxes and Levies (RoSCTL) Scheme is an export Incentive scheme introduced from 07th March 2019 to 31.03. 2020 for those who export Apparels and made-ups from India. The RoSCTL Scheme gives duty credit transferable and sellable scrips on the FOB value of export.

Detailed explanation-4: -An initiative called the Rebate of State and Central Levies and Taxes (RoSCTL) Scheme aims to reimburse all embedded State and Central Taxes/Levies for exports of manufactured goods and garments. Importer-Exporter Codes (IECs) are necessary in order to apply for the RoSCTL programme.

Detailed explanation-5: -Who is eligible for the RoSCTL scheme? Merchants or manufacturer-exporters who are directly exporting garments and apparel that are manufactured in India are eligible for this scheme. However, businesses listed in the ‘Denied Entity List of DGFT’ cannot avail of the benefits of this scheme1.