Consider the following statements regarding the Rebate of State Levies scheme and identify the corre...........

Economic Affairs Tax System

Consider the following statements regarding the 'Rebate of State Levies' scheme and identify the correct one/s.

1. The objective of the scheme is to provide rebate on state levies accumulated through the stages of production from yarn to finished garment.

2. The scheme has been discontinued post the rollout of Goods and Services Tax

Select the correct answer using codes given below

1 only

2 only

Both are correct

Neither is correct

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Explanation:

RoSL, under which garment exporters get refunds from the Centre against all the levies they pay at the states’ level, is the most important scheme in the Rs 6,000-crore garments package announced last year. The government has budgetted Rs 1,555 crore for the RoSL scheme in 2017-18.

The schme has been continued under the GST and textile exports have benefitted from this