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Rebate scheme extended to 2024

The Scheme for Rebate of State and Central Taxes and Levies (RoSCTL) has been extended till March 31, 2024. After the introduction of GST in 2017, the RoSL (Rebate of State Levies) scheme was replaced by a new scheme, the Rebate of State and Central Taxes Levies (RoSCTL) in March 2019. This scheme is meant for exports of apparel/garments and made-ups and the aim is to boost exports and job creation in the textile sector. 

RoSCTL is a forward-looking and growth-oriented scheme which has provided a stable and predictable policy regime, helping boost exports and employment. The scheme helped improve cost efficiency and the export competitiveness in the international market. 

It has also promoted incubation of start-ups and entrepreneurs in the domain and has also led to a large number of MSMEs joining the apparel export business. Micro, small and medium units in India are being provided an encouraging atmosphere. Their tax burden is being eased. The rate of corporate tax has been reduced to 25 per cent for companies with a turnover of up to Rs 250 crores. The threshold limit for applicability of presumptive taxation of business income has been increased from Rs 1 crore to Rs 2 crores.

 

 
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