Fabrics

GST Council reduces tax rate for velvet fabric

GST Council on its 25th meeting has reduced the GST rate on velvet fabric (code 5801 37 20) from 12 per cent to 5 per cent with no refund of unutilised input tax credit. The recommendation of the Council will be effective from 00 hours on January 25, 2018. The Council, at its meeting in New Delhi, also decided that the late fee payable by any registered person for failure to furnish form GSTR-1 (supply details), form GSTR-5 (non-resident taxable person) or form GSTR-5A (OIDAR) will be reduced to fifty rupees per day and shall be twenty rupees per day for ?nil? filers. The late fee payable for failure to furnish form GSTR-6 (Input Service Distributor) shall be fifty rupees per day.
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Cotton Fabrics included in Merchandise Exports from India Scheme (MEISP

Cotton fabric exports are likely to rise at least 10 per cent in 2015-16 because of inclusion of the fabric in the Merchandise Exports from India Scheme (MEIS). The products exported under the scheme are eligible for reward on the free-on-board value. Cotton fabrics have been added in the exports list for Bangladesh and Srilanka which will result in extra incentive of 2% on the value. Though cotton fabric is included other popular fabrics like lycra, and other forms of knitted fabrics are left out. Texprocil has urged to include cotton dyed and printed fabrics, and made-ups, to African countries under MEIS.
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    A K Soni Hosiery Mill Pvt Ltd

    A K Soni Hosiery Mill Pvt Ltd was promoted by Soni brothers in 2004 and is engaged in manufacturing of knitted woollen fabrics. The company is based out of Ludhiana.

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    Aarvee Denims and Exports Ltd

    Aarvee Denims and Exports Ltd, is backed by two groups Arora Group and Vora Group both have experience in denim textile trade for many decades. They have two brands - Aden and A

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    Alok Industries Ltd

    Alok Industries is a fully integrated textile company with a dominant presence in the Cotton and Polyester segments. The company was established in 1986 and have expanded into w

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    Amitoj Textiles Ltd

    Ludhiana-based Amitoj Textiles Ltd was initially engaged in trading of textile products, but the company has recently entered into manufacturing segment for which they have obta

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    Anjani Synthetics Ltd

    Anjani Synthetics Ltd was established in the year 1984 in Ahmedabad and they produce dress materials, bed sheets, scarves, shirtings, curtains etc., They also have the capabilit

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    Arthanari Loom Center Textile Pvt Ltd

    Arthanari Loom Center Textile Pvt Ltd is engaged in manufacturing of yarn dyed fabrics and indigo fabrics. The plant consists of facilities for dyeing, weaving, warping, sizing