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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    Jindal Texofab Ltd

    Jindal Texofab was incorporated in 1991. It is a textiles process house engaged in Textiles Processing activities like Bleaching, Dyeing, and Printing & Finishing of Cloth. JTL?

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    K G Denim Ltd

    KG Denim, a denim and apparel fabric manufacturer, catering to leading fashion brands and retailers worldwide. The company is 70 years old

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    Kallam Spinning Mills Ltd

    Kallam Spinning Mills Limited was established in 1994 with an initial capacity of 12,000 spindles. Over its two decades of chequered growth it has expanded to 55,000 spindles --

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    Kottex Industries Pvt Ltd

    Kottex Industries Pvt Ltd (KIPL) incorporated during June 2007 is promoted by Pratibha group. The company is into manufacturing of Linen Fabrics from Flax Yarn under the brand n

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    Lakra Industries Ltd

    Lakra Industries Limited (erstwhile Lakra Brothers) is closely held limited company, incorporated in the year 2007, by Mr. Dinesh Lakra and his family members. Lakra Brothers, a

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    M K Exim India Ltd

    M.K. Exim (India) Limited is India's leading producer of various blended suiting & shirting fabric. It has a capacity of 5 million meters of fabrics in Cotton, Polyester, Viscos