The Central government’s decision to extend the Rebate of State and Central Taxes and Levies (RoSCTL) scheme for exporters of apparel and made ups will enable the manufacturers to finalise long-term contracts with the buyers, said the Southern India Mills’ Association here on Tuesday.
S. K. Sundararaman, chairman of the Association, said in a press release that Indian textile and clothing exports contributed to 8% of total exports and were stagnant at $ 35- $ 37 billion.
“With a view to effectively implementing the principle that taxes and duties should not be exported and to enable a level playing field in the international market for Indian players, the blocked duties and levies on export products are being refunded through Rebate of State and Central Taxes and Levies (ROSCTL) scheme,” he said.
The scheme was originally valid till the end of March 2020 and has now been extended to end of March 2026 with budgetary allocation this year.
“The continuation of the RoSCTL scheme will help sustain the competitiveness of the Indian textile exporters in the global arena,” he added.