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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    Emmtex Synthetics Ltd

    Punjab (Ludhiana) based ESL, incorporated in 1987 by Mr Madan Lal Jain, Mr Mohan Lal Jain and Mr Abhay Kumar Jain, is engaged in the manufacturing of Polyester Oriented Yarn (PO

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    Emtex Industries India Ltd

    Emtex was incorporated in the year 1975 was promoted by Shivprakash Makharia and Pradeep Makharia, whose family have experience in textile trade for over 50 years. It produces 2

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    Everlon Synthetics Ltd

    Everlon Synthetics Limited are manufacturing Polyester Texturized yarn which is used for manufacture of Synthetic Fabrics like suitings, shirtings, sarees, dress materials , kni

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    Fibreweb India Ltd

    Fibreweb India Ltd started its operations in the year 1985. It started producing manufacturing and exporting Garbage bags and Carrier bags. It later established flagship unit f

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    Gini Silk Mills Ltd

    Gini Silk mills, since 30 years, have expertise in 100% cotton, polyester cotton, polyester viscose, 100% polyester shirting & suiting fabrics. Gini uses the most versatile and

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    Ginni Global Ltd

    Ginni Global Ltd is an integrated textile company engaged in production of cotton yarn, woven fabric and denim fabric. The company started its operations in Neemrana in 1996.

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    Global Syntex Bhilwara Ltd

    Incorporated in Mar.'84 as Gautam Processors (India) by D S Ranka and renamed as Global Syntex (Bhilwara) in Oct.'94, the company is engaged in dyeing and processing synthetic f

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    Gokaldas Exports Ltd

    Gokaldas Exports was initially promoted as a partnership firm by late Mr. Jhamandas H. Hinduja in 1978 and incorporated in 2004 as a public limited company. The company is one o