HEWA textile exporters urged the Center to release pending RoSCTL
The delegation has requested the Government to allow variation up to 5% in the Shipping Bill value and Foreign Inward Remittance realized value, removal of alert from the IECs having difference amount from BRC not more than 5%.
A delegation of Home Textile Exporters' Welfare Association (HEWA) including Mr. Anant Srivastava and Mr. Vikas Singh Chauhan met with Joint Secretary Mr. Keshav Chandra, Ministry of Commerce and Industry on September 13, 2019, at Udyog Bhawan, New Delhi and informed him about the hardship being faced by Textile Exporters. The duo urged him to release the pending RoSCTL and appraised him about other export-related issues.
The delegations raised the following issues before the Mr. Chandra:
- Release of Pending RoSCTL can bring major jump in Export Sales in 3rd Christmas festival season sale is coming and Indian exporter have received orders from all over the world but due to pending GST Refunds, non-availability of credit from banks, and cost-escalation, the exporters are having lack of funds to fulfil the order on a timely basis.
- On March 7, 2019, the Union Government had announced the RoSCTL scheme that provides a rebate on all embedded taxes on exports, but exporters are yet to receive the funds from this scheme which is pending for the last 6 months.
- The release of RoSCTL will give instant liquidity to exporters to complete the pending as well as new orders. This will directly give a boost in export sales.
- In case there is a delay in doling out the RoSCTL payments, it will lead to cancellation of the order. Exporters are having very less time to complete the pending orders as already shipment of Christmas started.
- Timely shipment will bring export proceeds in India and new orders will come for summer season whereas a delay in shipment will lead to further distress in the Industry.
- Stopping of Export Consignment by Custom Authorities due to slight difference in BRC amount.
- It has been seen that most of the exporters have a slight difference in the realized value of (BRC) and shipping bill FOB value. Many times buyers also deduct some payment in the name of the sample, courier, delay, inspection, CBM mismatch charges from the bill value. Many exporters have brought this issue to our knowledge that their IEC have been put on alert and they are unable to send export shipments.
- This hardship for the exporters is signalling a wrong message before the buyer community, due to which the credibility of exporters is declining. Exporters are also losing their orders due to stoppage of Export Consignment at various ports, which is further creating a negative mouth wording for Make in India Brands in the world market.