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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    Phoenix International Ltd

    Phoenix International Limited is engaged in the manufacturing of canvas and sports shoes. The Company?s products include sports shoes, bed sheet cover and leather shoes. During

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    Pioneer Syntex Pvt Ltd

    Pioneer Syntex Pvt Ltd was incorporated in 1987, but started commercial operation in 1994. PSPL is engaged in dying and processing of art silk fabric meant for sarees and dress

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    Polylon Fabrics Pvt Ltd

    Polylon Fabrics Pvt Ltd was established in 2011 at Panipat, Haryana, is primarily engaged in the business of knitting and processing of polyester fabric, to manufacture a large

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    Premier Mills Pvt Ltd

    Premier Group has an international reputation for quality built over the past 60 years of innovation in the textile industry. Established in 1949, Premier Mills is a member of t

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    PVN Fabrics Pvt Ltd

    PVN Fabrics is part of PVN group and was initially set up as partnership firm in year 1999, subsequently the firm was converted in a private limited company under the name PVN F

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    Raj Rajendra Industries Ltd

    Raj Rajendra Industries Ltd is mainly engaged in the manufacturing of fabrics (Shirting's and Suitings), primarily used for men?s wear catering to both domestic and foreign mark

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    Raymond Ltd

    Raymond Ltd was set up in 1925 as a woollen mill in Thane in Maharashtra and it was taken over by L K Singhania in 1944, now is a leading brand and has set up various manufactur