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इंडियन आवाज़     25 May 2024 04:37:47      انڈین آواز

Govt notifies post-GST rates for claiming rebate of taxes

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AMN

GST 2Government has notified post-GST rates for claiming rebate of state levies or taxes under the scheme for Remission of State Levies (ROSL) on exports of ready made garments, made-ups and under AA-RoSL for garments.

In a series of tweets, Minister of Textiles Smriti Irani on Saturday said that announcement on post-GST rates of RoSL will be effective from 1st of October this year. She said, post-GST rates for RoSL will boost exports and generate employment in labour intensive textiles and apparel sector.

Post-GST rates of RoSL are upto a maximum of 1.7 per cent for cotton garments, 1.25 per cent for man made fibre(MMF), silk and woolen garments and 1.48 per cent for apparel of blends.

Rates are upto a maximum of 2.2 per cent for cotton made-ups, 1.4 per cent for MMF and silk made-ups and 1.8 per cent for made-ups of blends. For sacks and bags made of jute, the rate 0.6 per cent.

Mrs Irani said government has also enhanced rates for incentives for garments and made-ups from 2 per cent to 4 per cent of value of exports under Merchandise Exports from India Scheme (MEIS). New MEIS rates will be effective from 1 of Nov 2017 to June next year.

She said the enhanced MEIS rates will further boost exports of garments and made ups from India.

The estimated annual incentives will be over one thousand 143 crore rupees for 2017-18 and 685 crore rupees for 2018-19.

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