CBIC clarifies Amendments to Rebate of State and Central Taxes and Levies (RoSCTL) Scheme [Read Circular]

The Central Board of Indirect Taxes and Customs (CBIC) has clarified the amendments to Rebate of State and Central Taxes and Levies (RoSCTL) Scheme.

The Board has directed the officials that the RoSCTL scheme notification No. 77/2021- Customs (N.T.) dated 24.09.2021 has been amended vide notification No. 76/2022 - Customs (N.T.) dated 14.09.2022whereby the para 4(2), para 5(5) and the words “or the transferee” in para 6 of the principal notification have been deleted.

“The effect of these amendments is the deletion of certain conditions related to transferee-holder of the scrip,” the Board said.

“Further, the Electronic Duty Credit Ledger Regulations, 2021 issued vide notification No. 75/2021-Customs (N.T.) dated 23.09.2021 have been amended vide notification No. 79/2022 - Customs (N.T.) dated 15.09.2022. In Regulations 6(2) and 7(3) of the principal regulations, the words “two years” have been substituted for the words “one year”. The effect of these amendments is that the validity period of scrips is increased from one year to two years from the date of their generation,” the Board added.

To Read the full text of the Circular CLICK HERE

Support our journalism by subscribing to Taxscan premium. Follow us on Telegram for quick updates