New Delhi, August 1, 2017
Exporters of garments and made ups like bedsheets and towels will continue to get rebate on certain state levies for three more months as in the pre-Goods and Services Tax (GST) regime.
Government on Tuesday announced a "transitional arrangement" wherein garments and made ups exporters can claim Remission of State Levies (ROSL) at the rates prior to introduction of GST till September 30.
The scheme aims at making exports competitive in the international market as exporters of made ups get incentives of 3.9 per cent of the value of exported goods.
The government in June had slashed the rates under the RoSL Scheme on export of garments and textile made-up articles to 0.39 per cent to be effective from July 1 from 3.9 per cent earlier causing a furore in the two sectors.
However, Tuesday's announcement will allow exporters the old incentive of 3.9 per cent till September 30.
The special scheme for remission of state levies for three years was part of the Rs 6,000 crore package that the government had approved in June last year for employment generation and promotion of exports in the textile and apparel sector.
[The Economic Times]