Duty incentives for apparel export withdrawn as tax rebate scheme launched


PTI, Jan 31, 2020, 3:30 PM IST

New Delhi: The commerce ministry on Thursday said it has rolled back duty incentives to apparel and made-ups exports due to the introduction of taxes and levies rebate scheme RoSCTL.

The Directorate General of Foreign Trade (DGFT), an arm of the ministry, in a notification said that “on account of the introduction of RoSCTL, MEIS for items of the apparel and made-ups sector for exports made with effective from March 7, 2019, stands withdrawn.”

In March 2019, the government had approved the Rebate of State and Central Taxes and Levies (RoSCTL) scheme for a rebate of all state and central embedded levies for apparel and made-up textile segments, which would make shipments zero-rated, thereby boosting the country’s competitiveness in export markets.

The ministry has rolled back incentives under the Merchandise Export from India Scheme (MEIS). In this, the government provides duty benefits depending on product and country. This scheme is inconsistent with the global trade rules of the World Trade Organization. Rewards under the scheme are payable as a percentage of realised free-on-board value and, MEIS duty credit scrip can be transferred or used for payment of a number of duties, including the basic customs duty.

The directorate has also laid out a detailed procedure for availing benefits under the RoSCTL scheme.

An application for claiming rebate under this scheme shall be filed online using digital signature on DGFT’s website, it said.

“The relevant shipping bills shall be linked with the online application by the exporter. A maximum of 50 shipping bills would be allowed to be attached in one single application by the exporter in the online module,” it added.

Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.

Top News

Jayant Patil claims BJP used irrigation ‘scam’ to blackmail Ajit Pawar; Fadnavis, NCP chief hit back

Medical College expels 5 MBBS students from hostel for ragging juniors

Insulting women is in DNA of Cong leaders, alleges Jharkhand BJP

Man arrested from Delhi for calling up Pappu Yadav posing as aide of Lawrence Bishnoi

Tejasvi Surya hits out at Kharge, CMs of Cong-ruled states over poll promises

Farooq Abdullah seeks inquiry into spike in terror attacks in Valley since Omar’s swearing-in

Sabarimala pilgrims to get free insurance coverage of Rs five lakh

Related Articles More

Sensex, Nifty decline on selling in IT shares, FII sellout; end Samvat 2080 with 22% gains

Sensex, Nifty decline in early trade on unabated foreign fund outflows, selling in IT stocks

Gold surges Rs 1,000 to breach Rs 82k-mark as Diwali sparkles demand

Car makers witness record sales on Dhanteras; Oct bookings up by 30%

Dhanteras begins on slow note; Jewellers expect footfalls to increase

MUST WATCH

Gho Pooja in Deepavali Festival

Melukote Deepavali

Ganapathi Co-operative Society Ltd

Udayavani Chinnara Banna 2024

Annapoorna Aahar | Food Places In Mysore


Latest Additions

Jayant Patil claims BJP used irrigation ‘scam’ to blackmail Ajit Pawar; Fadnavis, NCP chief hit back

Medical College expels 5 MBBS students from hostel for ragging juniors

Insulting women is in DNA of Cong leaders, alleges Jharkhand BJP

Man arrested from Delhi for calling up Pappu Yadav posing as aide of Lawrence Bishnoi

Tejasvi Surya hits out at Kharge, CMs of Cong-ruled states over poll promises

Thanks for visiting Udayavani

You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.