"RoSCTL scheme for apparel and made-ups will be continued with effect from April 1, 2020 without any change in scheme guidelines and rates as notified by the ministry of textiles till such time that the RoSCTL is merged with RoDTEP," an official statement said.
Under RoDTEP, an inter-ministerial committee will determine the rates and items for which the reimbursement of taxes and duties would be offered. In line with the ‘Digital India’ project, refund under the scheme, in the form of transferable duty credit/electronic scrip will be issued to the exporters, which will be maintained in an electronic ledger.
Continuation of RoSCTL beyond March 31, 2020 is expected to make the textile sector competitive by rebating all taxes/levies which are currently not being rebated under any other mechanism.
ALCHEMPro News Desk (RKS)
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