Sign In
Learn bits
Economy
Mahesh

18/07/22 21:06 PM IST

Extension of RoSCTL scheme

In News 
  • Ministry of Commerce and Industry recently extended the “Scheme for Rebate of State and Central Taxes and Levies (RoSCTL)” till March 31, 2024.
RoSCTL
  • RoSCTL scheme will be continued with the same rates as announced by Textile Ministry for exports of apparel or garments and made-ups.
  • Scheme was extended in order to enhance exports and generate employment in textile industry.
  • It is a forward-looking and growth-oriented scheme. The scheme has always provided a predictable and stable policy regime.
  • It has led to improvement in cost efficiency and export competitiveness in global market.
  • Scheme also promoted incubation of start-ups & entrepreneurs in this field.
  • Under the scheme, huge number of MSMEs have joined the apparel export business.
  • RoSCTL Scheme was launched with the aim of reimbursing all embedded State and Central Taxes or Levies for exports of manufactured goods and garments.
  • Importer-Exporter Codes (IECs) are required to apply for RoSCTL programme.
Source- PIB 

More Related Current Affairs View All

20 Feb

The Maharashtra Protection of Interest of Depositors (in Financial Establishments) Act, 1999

'Investors who were defrauded in the Torres Ponzi scam may receive about Rs 40 crore over the next six months.' The Mumbai Police’s Economic Offences Wing (EOW) has begun

Read More

18 Feb

Aravali safari park project

'The Haryana government’s ambitious 3,858 hectare Aravali safari park project spread across Gurugram and Nuh — which was one of the poll promises of the ruling Bharatiy

Read More

17 Feb

President’s rule function

'Recently,  four days after Manipur Chief Minister N. Biren Singh’s resignation, the Union government announced that President’s rule has been implemented in the v

Read More

India’s First Ai-Driven Magazine Generator

Generate Your Custom Current Affairs Magazine using our AI in just 3 steps