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After Piyush Goyal took over the reins of the Union Textile Ministry, the Government of India on July 14, 2021, gave its assent for the continuation of the Rebate of State and Central Taxes and Levies (RoSCTL) scheme on exports of apparels and made-ups till the end of March, 2024.
Govt extends RoSCTL till Mar 2024; Industry hails the decision
The Union Cabinet, chaired by the Prime Minister, on July 14, 2021, gave its approval for continuation of the Rebate of State and Central Taxes and Levies (RoSCTL) scheme with the same rates till March 31, 2024 for the exports of apparel garments and made-ups.
RoSCTL extension to boost India’s textile exports
Apparel Export Promotion Council (AEPC) Chairman A Sakthivel has welcomed the government’s decision to continue the Rebate of State and Central Taxes and Levies (RoSCTL) Scheme on apparels and made-ups till March 2024.
While European textiles and clothing companies have been crucial in providing short-term relief in the crisis, such as converting their production or an increased production of PPE, now long-term goals need to be tackled that involve a renewal process of the sector and its value chain and a more competitive and greener future.
Textile industry under pressure
Going forward, the textile industry scenario will depend on how the situation evolves in the domestic and international markets and faster return to normalcy will enable the industry to curtail the damages and improve on its growth prospects.
Textile Industry: Locked down
Covid-19 virus that has thrown the economic activity out of gear across the world has also halted the Indian textile industry to a grinding halt.
TexMin extends RoSCTL scheme beyond March 2020
The Ministry of Textiles has issued a notification extending the Scheme of Rebate of State and Central Taxes and Levies on Export of Garments and Made-ups (RoSCTL), which was in force up to March 31, 2020.
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