Government Revises Goods And Services Tax Rates For Readymade Garments - JPKee.com

New Delhi, Nov 25: In order to support exports of readymade garments and made-ups, Government on Saturday revised rates for readymade garments. The centre in its notification revised post-GST rates under the scheme for Remission of State Levies (RoSL) on exports of readymade garments, made-ups and under AA-RoSL for garments.

Post-GST rates of RoSL are up to a maximum of 1.70 Per Cent for cotton garments, 1.25 Per Cent for MMF, Silk and Woolen garments and 1.48 Per Cent for apparel of blends. Rates are up to a maximum of 2.20  Per Cent for cotton made-ups, 1.40  Per Cent for MMF and silk made-ups and 1.80 Per Cent for made-ups of blends. For sacks and bags made of jute, the rate is 0.60 Per Cent. The RoSL rate for garments under AA-AIR combination is 0.66 Per Cent.

Notification of post-GST RoSL rates for a rebate of state levies/taxes is in pursuance of the decision of Government of India to boost exports and employment generation in the labour intensive textiles and apparel sector. These rates shall be effective from 01.10.2017.

Further, DGFT has enhanced the rates under the Merchandise Exports from India Scheme (MEIS) from 2% to 4% on readymade garments and made ups w.e.f 1st November 2017 till 30th June 2018. These measures are expected to boost the exports of garments and made-ups from India.

Source link

- #News

Author - Vikash Kumar