Textile industry hails extension of RoSCTL

·2-min read

Coimbatore, July 14 (PTI): The textile industry in the region on Wednesday welcomed the announcement of the duty drawback scheme to refund import duties, GST and the Rebate of State and Central Taxes and Levies (RoSCTL) for apparel and made-ups exports to ensure its zero rating.

In a statement, chairman of Southern India Mills Association (SIMA) Ashwin Chandran thanked the Centre for extending the RoSCTL benefit with the same rates for three more years for garment and made-ups exports.

The industry that had been struggling with the stagnated exports of garments and made-ups for more than four years started getting good market opportunities in the post-COVID period, he said.

Stating that the industry could not make commitments and materialise the orders in the absence of RoSCTL benefit and has been facing stress during the last couple of months, he said the announcement has now given enough confidence and level-playing field to increase the exports and create new jobs for several lakhs of people.

He welcomed also the decision of the Cabinet committee to cover all the remaining textile products in the value chain in the RoDTEP (Remission of Duties and Taxes on Export Products) scheme that would enhance the global competitiveness of yarns and fabrics.

He expressed hope that the rates would be announced soon for all the remaining products that are not covered under RoSCTL.

In a separate press release, president of Tirupur Exporters' Association (TEA) Raja M Shanmugham thanked the Cabinet committee for continuation of RoSCTL with the same rates as notified by the Ministry of Textiles.

Stating that the long term of the scheme would benefit the exporters to work out the costs accordingly as the exporters usually take up the order 4 to 6 months in advance, he hoped the revised guidelines for continuation and implementation of the RoSCTL scheme would be announced at the earliest to submit application to avail of the scrips.

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