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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    Arvind Ltd

    Arvind Ltd, a company with a rich heritage was started in the year 1930 when great depression was around. It was founded by Kasturbhai, Narottambhai and Chimanbhai. In 1997 Arvi

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    Avi Ansh Textile Pvt Ltd

    Avi Ansh Textile Pvt Ltd was incorporated on 27 April 2005 as ''Rajneesh Spinners Private Limited'' by Mr. Satish Kumar Sharma, Mr. Tushar Kumar Chandra, Mr. Jayesh Kumar Chandr

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    Avon Cottex Pvt Ltd

    Avon Cottex Pvt Ltd was incorporated in 2012 by Mr. Satnam Singh. The company is engaged in manufacturing of cloth besides doing fabrication on job work basis of Fabric Knittin

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    Bahadur Ke Textiles Knitwear Association

    Bahadur Ke Road Identified Knitwear Cluster Industry at Bahadur-Ke-Road is established after 1985, when some progressive entrepreneurs shifted their units from the congested are

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    Balar Synthetics Pvt Ltd

    Balar Synthetics Pvt Ltd., Bhilwara, Rajasthan was incorporated in 1996. The company is engaged in manufacturing of synthetic fabrics from polyester viscose yarn. The company's

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    Bhaskar Industries Pvt Ltd

    Bhaskar Industries Pvt Ltd incorporated in 1985, Bhaskar Industries Ltd is today a major player in Denim Fabric manufacturing , being the third largest producer in India with an

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    Blue Blends India Ltd

    Blue Blends (India) Limited is a manufacturer of denim from the year 1995 is promoted by Mr. Anand Arya , a first generation industrialist. Their spinning division (under group