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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    Grabal Alok Impex Ltd

    Grabal Alok is promoted by Alok Industries Ltd, a textile major. It is supported technically by Grabher Gesellschaft m.b.H & Co., of Austria. It manufactures all kind of embroid

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    Hariom Polypacks Ltd

    Hariom Polypacks Ltd was incorporated as a limited company in the year 2010 by Mr. Sajjan Bansal. The Commercial operations started in the year 2012.The Company is primarily eng

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    Hindoostan Mills Ltd

    Hindoostan Mills Ltd. was incorporated in 1873 under the leadership of Sheth Thackersey Moolji. The company engages in the manufacture and sale of textiles primarily in India. I

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    Integral Knit Co Ltd

    Integral Knit Co Limited manufactures cotton, acrylic and blended knitwear. The Company also manufactures synthetic yarn. Integral sells its products in India and abroad.

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    Janki Corp

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    Jaya Shree Textiles

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    JCT Ltd

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