Government examines drawback benefit schemes in GST regime
ROSL, a remission scheme to offset state levies is an import additional duty drawback scheme announced by the Textile Ministry for exporters in late 2016.
By PTI | Updated:
KOLKATA: The Union government is seeking industry feedback on how to readjust the duty drawbacks in the new Goods and Services Tax regime.
"It will change. Sought views of the industry as state levies are subsumed in GST," Union Textiles Joint (rptng Joint) secretary Subrata Gupta said when asked whether the ROSL (Rebate of State Levies on Export of Garments) scheme will continue in the present form during GST regime.
He was in the city in a CII-supported roadshow - Textiles India 2017.
ROSL, a remission scheme to offset state levies is an import additional duty drawback scheme anncouned by the Textile Ministry for exporters in late 2016.
"We are surviving on drawbacks. ROSL is very important benefit with great positive impact on exports. Monthly exports of apparel in April, 2017 grew by almost 32 per cent to $174 billion over the same month last year. The benefit of ROSL is to the tune of four per cent to our cost," chairman export promotion committee of Apparel Export Promotion Council, Anil Buchasia said.
Exporters remained wary about the duty drawbacks as clarity over continuation or in which form remained a grey area till now.
"We are still in the dark about drawbacks in the GST era, but we are continuing to book orders presuming it will continue," Buchasia said.
"It will change. Sought views of the industry as state levies are subsumed in GST," Union Textiles Joint (rptng Joint) secretary Subrata Gupta said when asked whether the ROSL (Rebate of State Levies on Export of Garments) scheme will continue in the present form during GST regime.
He was in the city in a CII-supported roadshow - Textiles India 2017.
ROSL, a remission scheme to offset state levies is an import additional duty drawback scheme anncouned by the Textile Ministry for exporters in late 2016.
"We are surviving on drawbacks. ROSL is very important benefit with great positive impact on exports. Monthly exports of apparel in April, 2017 grew by almost 32 per cent to $174 billion over the same month last year. The benefit of ROSL is to the tune of four per cent to our cost," chairman export promotion committee of Apparel Export Promotion Council, Anil Buchasia said.
Exporters remained wary about the duty drawbacks as clarity over continuation or in which form remained a grey area till now.
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"We are still in the dark about drawbacks in the GST era, but we are continuing to book orders presuming it will continue," Buchasia said.
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It is a single tax levied on supply of goods and services from the manufacturer to the consumer.
Which implies it is a tax on value added at each stage of production.
Credits of input taxes paid at each stage are available in the next stage of value addition.
The final amount paid by the consumer is the GST paid by the last dealer in the supply chain.
Now let's see how GST will potentially impact different sectors of our economy.
Source: EY
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