{"id":16646,"date":"2023-11-04T12:00:37","date_gmt":"2023-11-04T06:30:37","guid":{"rendered":"https:\/\/vajiramandravi.com\/current-affairs\/?p=16646"},"modified":"2025-04-04T22:21:56","modified_gmt":"2025-04-04T16:51:56","slug":"rosctl","status":"publish","type":"post","link":"https:\/\/vajiramandravi.com\/current-affairs\/rosctl\/","title":{"rendered":"Rebate of State and Central Levies and Taxes (RoSCTL) Scheme"},"content":{"rendered":"<h2>About Rebate of State and Central Levies and Taxes (RoSCTL) Scheme<\/h2>\n<ul>\n<li>It aims to\u00a0reimburse all embedded State and Central taxes\/levies for exports\u00a0of manufactured goods and garments.<\/li>\n<li>The RoSCTL scheme was\u00a0notified by the Ministry of Textiles\u00a0in 2019. However, the scheme shall be\u00a0implemented by the Department of Revenue, Ministry of Finance.<\/li>\n<li>This scheme has been introduced as\u00a0a replacement for the previous\u00a0Rebate of State Levies (RoSL) Scheme,\u00a0which provided only rebates of state taxes.<\/li>\n<li>RoSCTL\u00a0intends to compensate the State and Central Taxes and Levies in addition to the Duty Drawback Scheme\u00a0on the export of apparel\/ garments\u00a0and made-ups manufactured in India\u00a0by way of a rebate.<\/li>\n<li>Importer-Exporter Codes (IECs) are\u00a0necessary in order\u00a0to apply for the\u00a0RoSCTL programme.<\/li>\n<li>The rebate under the RoSCTL\u00a0Scheme shall be given to the exporter\u00a0in the form of duty credit scrips, which will be\u00a0maintained in the electronic duty credit ledger. The scrips shall be\u00a0issued electronically on the Customs automated system.<\/li>\n<li>The duty credit\u00a0scrips shall be used for payment of customs duties leviable under the First Schedule to the\u00a0Customs Tariff Act, 1975. It\u00a0cannot be utilized\u00a0towards the\u00a0payment\u00a0of any other\u00a0taxes, like IGST, Compensation Cess etc.,\u00a0upon the import of goods.<\/li>\n<li>The duty credit available in an\u00a0e-scrip shall be transferred at a time\u00a0for the entire amount in the said e-scrip\u00a0to another person, and the\u00a0transfer of the duty credit in part shall not be permitted.<\/li>\n<li>The\u00a0value of the goods\u00a0for\u00a0calculation of duty credit to be allowed under the Scheme\u00a0shall be the declared export Free on Board (FOB) value of the said goods\u00a0or up to 1.5 times the market price of the said goods,\u00a0whichever is less.<\/li>\n<li>All exporters of garments\/Apparels and made-ups manufactured in India\u00a0are eligible to take benefit under this scheme\u00a0except entities\/ IECs under the Denied Entity List\u00a0of the Directorate General of Foreign Trade (DGFT).<\/li>\n<\/ul>\n<h2>What is Free on Board (FOB) value?<\/h2>\n<ul>\n<li>Free on Board also called\u00a0Freight on Board, is a term used to indicate who is liable for goods damaged\u00a0or destroyed during shipping.<\/li>\n<li>FOB origin means the\u00a0buyer is at risk\u00a0and takes ownership of goods\u00a0once the seller ships the product.<\/li>\n<li>FOB destination\u00a0means the\u00a0seller retains the risk of loss\u00a0until the goods reach the buyer.<\/li>\n<\/ul>\n<hr \/>\n<h3>Q1) What is the Directorate General of Foreign Trade (DGFT)?<\/h3>\n<p>The Directorate General of Foreign Trade (DGFT) organisation is an attached office of the Ministry of Commerce and Industry and is headed by the Director General of Foreign Trade. It has been essentially involved in the regulation and promotion of foreign trade through regulation.It is responsible for formulating and implementing the Foreign Trade Policy with the main objective of promoting India&#8217;s exports. The DGFT also issues scrips\/authorization to exporters and monitors their corresponding obligations through a network of 24 regional offices.<\/p>\n<p><strong>Source:<\/strong> <a href=\"https:\/\/www.business-standard.com\/economy\/news\/after-rodtep-govt-may-extend-tenure-of-another-export-boosting-scheme-123110200707_1.html\" target=\"_blank\" rel=\"nofollow noopener\"><u>After RoDTEP, govt likely to extend export-boosting textile scheme<\/u><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>RoSCTL Scheme aims to reimburse all embedded State and Central taxes\/levies for exports of manufactured goods and garments.<\/p>\n","protected":false},"author":5,"featured_media":16647,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-16646","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-upsc-prelims-current-affairs","8":"no-featured-image-padding"},"acf":[],"_links":{"self":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/16646","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/comments?post=16646"}],"version-history":[{"count":0,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/16646\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media\/16647"}],"wp:attachment":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media?parent=16646"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/categories?post=16646"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/tags?post=16646"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}