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With reference to the rebate on central and state taxes and levies consider the following statements:
1. The scheme will continue till March 31, 2024.
2. The scheme will be implemented by the Department of Finance with end-to-end digitisation for issuance of transferrable Duty Credit Scrip.
Which of the statements given above is/are correct?
  • a)
    1 only
  • b)
    2 only
  • c)
    Both 1 and 2
  • d)
    Neither 1 nor 2
Correct answer is option 'A'. Can you explain this answer?
Verified Answer
With reference to the rebate on central and state taxes and levies con...
Garment exporters will continue to get a rebate on central and state taxes on their outward shipments as the government approved extension of RoSCTL scheme till March 2024.
  • The move is aimed at enhancing competitiveness of the labour-intensive textiles sector.
  • The Union Cabinet chaired by Prime Minister Narendra Modi has given its approval for continuation of Rebate of State and Central Taxes and Levies (RoSCTL) with the same rates as notified by the Ministry of Textiles for exports of apparel/garments and made-ups.
  • The scheme will continue till March 31, 2024. It will help boost exports and job creation,.
  • The sectors covered under this scheme (apparel/garments and made-ups) would not get benefits under the Remission of Duties and Taxes on Exported Products (RoDTEP) scheme.
  • However, textiles products which are not covered under the RoSCTL would be eligible to avail the benefits, if any, under RoDTEP along with other products as finalised by the Department of Commerce.
  • The scheme will be implemented by the Department of Revenue with end-to-end digitisation for issuance of transferrable Duty Credit Scrip, which will be maintained in an electronic ledger in the customs system.
  • Hence, option (a) is the correct answer.
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With reference to the rebate on central and state taxes and levies consider the following statements:1. The scheme will continue till March 31, 2024.2. The scheme will be implemented by the Department of Finance with end-to-end digitisation for issuance of transferrable Duty Credit Scrip.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'A'. Can you explain this answer?
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With reference to the rebate on central and state taxes and levies consider the following statements:1. The scheme will continue till March 31, 2024.2. The scheme will be implemented by the Department of Finance with end-to-end digitisation for issuance of transferrable Duty Credit Scrip.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'A'. Can you explain this answer? for Current Affairs 2024 is part of Current Affairs preparation. The Question and answers have been prepared according to the Current Affairs exam syllabus. Information about With reference to the rebate on central and state taxes and levies consider the following statements:1. The scheme will continue till March 31, 2024.2. The scheme will be implemented by the Department of Finance with end-to-end digitisation for issuance of transferrable Duty Credit Scrip.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for Current Affairs 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for With reference to the rebate on central and state taxes and levies consider the following statements:1. The scheme will continue till March 31, 2024.2. The scheme will be implemented by the Department of Finance with end-to-end digitisation for issuance of transferrable Duty Credit Scrip.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'A'. Can you explain this answer?.
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