The other Textiles products (excluding Chapters-61, 62 & 63) which are not covered under the RoSCTL shall be eligible to avail the benefits, under RoDTEP along with other products as finalised by Department of Commerce from the dates which shall be notified in this regard.
Continuation of RoSCTL for Apparel/ Garments and Made-ups is expected to make these products globally competitive by rebating all embedded taxes/ levies which are currently not being rebated under any other mechanism. It will also provide a level playing field for Indian textile exporters, apart from providing an opportunity for start-ups and entrepreneurs to create lakhs of jobs.
Tax Refund for Exported Products
In addition, to import duties and GST which are generally refunded, there are various other taxes/duties that are levied by Central, State and Local Government which are not refunded to the exporters. These embedded taxes and levies increase the price of Indian Apparel and Made-ups and make it difficult for them to compete in the international market.
This story is from the July 2021 edition of The Textile magazine.
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This story is from the July 2021 edition of The Textile magazine.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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