Monday, September 19, 2016

New incentives for garment exporters

  • Rebate of State Levies Scheme (ROSL)

In order to boost garment exports, the revenue department has started the process to operationalise the Rs 5,500-crore ROSL scheme from September 20, under which exporters will be compensated for state levies. The ROSL will provide for remission of state levies in addition to the Duty Drawback Scheme on export of garments on an average basis only.
  • Duty Drawback
The government has introduced duty drawback of 3.2 per cent to 4.7 per cent (depending on the category) for exports of non-fabric inputs made from imported fabrics under special advance authorisation scheme. This will boost export of expensive apparels made from imported fabrics.
  • Provident Fund
Special incentives has also been announced for provident fund contribution to be funded by government.

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