{"id":7752,"date":"2020-05-04T12:41:31","date_gmt":"2020-05-04T07:11:31","guid":{"rendered":"https:\/\/triumphias.com\/blog\/?p=7752"},"modified":"2020-05-04T12:41:31","modified_gmt":"2020-05-04T07:11:31","slug":"rebate-of-state-levies-scheme","status":"publish","type":"post","link":"https:\/\/triumphias.com\/blog\/rebate-of-state-levies-scheme\/","title":{"rendered":"Rebate of State Levies Scheme"},"content":{"rendered":"<section class=\"hero-section\" data-type=\"type-1\" data-alignment=\"left\">\n<header class=\"entry-header\"><span style=\"color: #0000ff;\"><strong>Relevance: Prelims: Governance<\/strong><\/span><\/p>\n<p><img decoding=\"async\" src=\"https:\/\/afleo.com\/wp-content\/uploads\/2019\/06\/archit-ps.-1.png\" alt=\"RoSL Scheme replaced by RoSCTL Scheme - All You need to know | Afleo\" \/><\/p>\n<p><strong>Why in news?<\/strong><\/p>\n<\/header>\n<\/section>\n<div class=\"entry-content\">\n<p>\u2022 Garment and made-up exporters who have Rebate of State Levies (ROSL) Scheme arrears will receive it in the form of scrips, according to a Department of Revenue communication.<\/p>\n<p><b>Key highlights:<\/b><\/p>\n<p>\u2022 The ROSL Scheme, which reimburses the State levies that garment and made-up exports incurred, was discontinued on March 7 last year and replaced with the Rebate of State and Central Taxes and Levies scheme.<\/p>\n<p>\u2022 In order to clear pending claims under the ROSL scheme, \u20b9464.13 crores has been allocated for the issue of duty credit scrips by the DGFT to exporters who have pending claims, according to the communication.<\/p>\n<p>\u2022 The Cotton Textiles Export Promotion Council has welcomed the move while pointing out that exporters were in need of funds now and that the scrips would provide relief.<\/p>\n<p>\u2022 They can use it for imports too, if needed, according to the Council.<\/p>\n<\/div>\n<h4><span style=\"color: #ff0000;\">Rebate of State Levies (ROSL) Scheme<\/span><\/h4>\n<ul>\n<li>Last year, the Union Cabinet has approved the Scheme to Rebate State and Central Embedded Taxes to Support the Textile Sector.<\/li>\n<li>The scheme aimed to reimburse the State levies that garment and made-up exports incurred.<\/li>\n<li>But it was discontinued on and replaced with the Rebate of State and Central Taxes and Levies scheme.<\/li>\n<\/ul>\n<h4><span style=\"color: #ff0000;\">Relevance of the Scheme<\/span><\/h4>\n<ul>\n<li>ROSL plays a vital role for the exporters by providing zero-rated taxation on apparel and made-up products.<\/li>\n<li>This scheme enabled the exporters to increase traffic, enhance competitiveness among the global market, and compete against countries such as Sri Lanka, Bangladesh, Cambodia and Vietnam, who enjoy zero taxation.<\/li>\n<li>This also benefits the traders who export to the European Union (EU), India\u2019s largest export market for the apparel sector, facing a tariff variation of 9.6 per cent.<\/li>\n<\/ul>\n<p><span style=\"color: #0000ff;\"><strong>For more such notes, Articles, News &amp; Views Join our Telegram Channel.<\/strong><\/span><\/p>\n<p><a title=\"Telegram Link\" href=\"https:\/\/t.me\/triumphias\" target=\"_blank\"><span style=\"color: #ff0000;\"><strong>https:\/\/t.me\/triumphias<\/strong><\/span><\/a><\/p>\n<p><span style=\"color: #0000ff;\"><strong>Click the link below to see the details about the UPSC \u2013Civils courses offered by Triumph IAS.<\/strong> <\/span><span style=\"color: #ff0000;\"><strong><a style=\"color: #ff0000;\" title=\"Courses available\" href=\"https:\/\/triumphias.com\/pages-all-courses.php\">https:\/\/triumphias.com\/pages-all-courses.php<\/a><\/strong><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Relevance: Prelims: Governance Why in news? \u2022 Garment and made-up exporters who have Rebate of State Levies (ROSL) Scheme arrears<\/p>\n","protected":false},"author":1,"featured_media":7214,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[123],"tags":[392],"class_list":["post-7752","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-current-affairs","tag-union-public-service-commission-upsc"],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/triumphias.com\/blog\/wp-json\/wp\/v2\/posts\/7752","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/triumphias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/triumphias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/triumphias.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/triumphias.com\/blog\/wp-json\/wp\/v2\/comments?post=7752"}],"version-history":[{"count":1,"href":"https:\/\/triumphias.com\/blog\/wp-json\/wp\/v2\/posts\/7752\/revisions"}],"predecessor-version":[{"id":7753,"href":"https:\/\/triumphias.com\/blog\/wp-json\/wp\/v2\/posts\/7752\/revisions\/7753"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/triumphias.com\/blog\/wp-json\/wp\/v2\/media\/7214"}],"wp:attachment":[{"href":"https:\/\/triumphias.com\/blog\/wp-json\/wp\/v2\/media?parent=7752"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/triumphias.com\/blog\/wp-json\/wp\/v2\/categories?post=7752"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/triumphias.com\/blog\/wp-json\/wp\/v2\/tags?post=7752"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}