India Extends Textile Export Tax Rebate Until March 31, 2024
The Indian government decided to extend the current textile export tax rebate -1.html "> 1 Export tax rebate (combat of state and central taxes and levies, rosctl) 3 years to 31 March 2024. Rosctl was first announced and implemented on March 7, 2019. It provides export tax rebates for apparel and made UPS, such as towels, curtains, carpets, pillows, bed sheets, etc., and the highest export tax rebate of 6.05% by the central government and 8.2% by the state for products that cannot be subject to GST rebate.
Statistics show that in 2020, the total export value of knitted apparel, woven apparel and household textiles in India will be 17 billion US dollars, and there is still a gap between India's exports of 30.2 billion US dollars and 36.9 billion US dollars of Vietnam and Bangladesh, indicating that India's textile competitiveness is still insufficient. India's Ministry of Commerce and industry said the extension of export tax rebates would help enhance the competitiveness of India's textile exports and create jobs.
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