New Delhi: In order to create lakhs of jobs and boost exports of garments, Central Government today approved continuation of Rebate of State and Central taxes and Levies (RoSCTL) on Export of Apparel/ Garments and Made-ups.
RoSCTL has been extended till 31st March 2024 at existing rates, an official release said.
This move by Union Cabinet chaired by Prime Minister Narendra Modi would not only help create jobs but also give a boost to exports of globally competitive textiles.
Continuation of RoSCTL for Apparel/Garments and Made-ups is expected to make these products globally competitive by rebating all embedded taxes/levies which are currently not being rebated under any other mechanism.
It will ensure a stable and predictable policy regime and provide a level playing field to Indian textiles exporters.
Further, it will promote startups and entrepreneurs to export and ensure creation of lakhs of jobs.