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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    Mangal Textile Mills India Pvt Ltd

    Mangal Textile had begun way back in 1970. It was in Ahmedabad, Gujarat. The company has embroidered capacity of 15000 meters per day, printing capacity of 200,000 meters per da

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    Manimore Synthetics Pvt Ltd

    Manimore Synthetics Pvt Ltd was incorporated in June, 1999 . It was promoted by Mr. Ajeet Yadav and Mr. Pawan Yadav. The company is engaged in manufacturing of grey knitted fabr

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    Minaxi Textiles Ltd

    Minaxi Textiles Ltd. engages in the textile business in India. It manufactures and exports polyester shirting and suiting. The company is based in Gandhi Nagar, India.

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    Morarjee Textiles Ltd

    Morarjee Textiles Ltd., belongs to the Ashok Piramal group, a diversified and leading business group in India, having interest in real estate, textiles, engineering, & Renewable

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    Mudra Denim Pvt Ltd

    Mudra Denim Pvt Ltd was incorporated in 2007, promoted by Mr Murarilal Agarwal and his family. The company in engaged in to dying and processing of denim fabric at its unit in A

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    Nandan Denim Ltd

    Nandan Denim , a Chiripal group company manufactures 100% cotton piece dyed fabric, blended cotton fabric and denim keeping with fashion and market trends. The range of fabrics

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    Nitin Spinners Ltd

    Nitin Spinners Ltd (NSL) was established in 1993 at Bhilwara, Rajasthan. It is a well-established player in Textile Industry (especially Cotton yarn segment), an ISO 9001:2008 c

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    Paramount Textile Mills Pvt Ltd

    Paramount Textiles Mills Pvt Ltd was established in 1979 by Mrs Lakshmi Murugesan. The company is engaged in the manufacture of grey fabrics and bed sheets / pillow covers, whic

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    Pee Vee Textiles Ltd

    Pee Vee Textiles has commissioned a grey fabric manufacturing unit in Samudrapur in Maharashtra in April 2016.