Centre approves continuation of export incentive scheme for apparel, garment till March 2026
The Hindu
The Indian government approves the continuation of the RoSCTL export incentive scheme for apparel and made-ups until March 31, 2026.
The Union government on Thursday, February 1, 2024, approved the continuation of an export incentive scheme - RoSCTL - for apparel, garments and made-ups up to March 31, 2026.
The Rebate of State and Central Taxes and Levies (RoSCTL) scheme is aimed at compensating for the State and Central taxes and levies in addition to the rebate provided under duty drawback scheme on export of apparel/garments and made-ups.
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"The Union Cabinet chaired by Prime Minister Narendra Modi approved the continuation of scheme for RoSCTL for export of apparel/garments and made-ups up to March 31, 2026," an official statement said.
It said that the move will provide a stable policy regime which is essential for long-term trade planning, more so in the textiles sector where orders can be placed in advance for long-term delivery.
"The continuation of RoSCTL will ensure predictability and stability in policy regime, help remove the burden of taxes and levies and provide level-playing field on the principle that goods are exported and not domestic taxes," it said.
The scheme was launched in 2020. Earlier it was extended till March 2024.
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