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GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No. 22/2016-Customs (ADD) New Delhi, the 31 st May, 2016 G.S.R. (E).

Rate of exchange of conversion of the foreign currency with effect from 3rd June, 2016.

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NEW DELHI: In order to boost garment exports, the Revenue Department has started the process to operationalise the Rs 5,500-crore ROSL scheme from September 20, under which exporters will be compensated for state levies. Presently, exporters get only duty drawback on the central levies imposed during the process of manufacturing of goods for exports. In a first of its kind move, the Cabinet had cleared Rebate of State Levies (ROSL) on export of garments to refund the State levies which were not refunded so far. "The main objective of the scheme is to provide for remission of State levies in addition to the duty drawback scheme, through the scheme for ROSL on export of garments on an average basis only," the Central Board of Excise and Customs (CBEC) said in a notification.