The government has approved the continuation of the Scheme for Rebate of State and Central Taxes and Levies (RoSCTL) with the same rates as announced by the Ministry of Textiles for exports of apparel/garments and made-ups until March 31, 2024 in an effort to increase exports and create jobs in the textile industry. RoSCTL is a growth-oriented, forward-looking programme that has helped increase exports and jobs by establishing a stable and predictable policy environment.
Buy Prime Test Series for all Banking, SSC, Insurance & other exams
The programme enhanced cost effectiveness and export competitiveness on the global market. Additionally, it has aided in the development of startups and entrepreneurs in the industry and encouraged a significant number of MSMEs to enter the garment export market. The RoSL (Rebate of State Levies) scheme was superseded by the new RoSCTL (Rebate of State and Central Taxes Levies) plan in March 2019 following the implementation of GST in 2017.
Important Takeaways For All Competitive Exams:
Find More News on Economy Here
The World Bank has approved the ₹4,000-crore loan for the Haryana's ambitious "Jal Sanrakshit Haryana"…
India set to host two day BRICS National Security Advisers (NSA) Meeting on 22nd and…
The Indian Air Force (IAF) has decided to acquire the nine retired SEPECAT Jaguar fighter…
India's teenage sensation and young prodigy Vaibhav Sooryavanshi smashed the fastest half century ever recorded…
The Indian women’s hockey team scripted the history after defeating the New Zealand 2-0 in…
The first budget of the newly elected BJP government in the State of West Bengal…