Sanjay K Jain, Chairman, CITI has applauded the Finance Minister and GST Council for bringing in number of reforms in GST law for promoting ease of doing business especially among small businesses
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The Textiles Secretary, Anant Kumar Singh disclosed that Ministry of textiles has constituted eight committees comprising industry representatives to formulate standards in technical textile industry. Already 295 standards have been formulated in the areas of medical textiles, geo textiles, industrial textiles, protective textiles.
Founded in 1963, CHTC Fong’s Industries Co Ltd has principally focused on the business of designing, developing, manufacturing and selling of textile dyeing and finishing machinery.
TUV Rheinland India, a subsidiary of the TUV Rheinland Group, Germany, a worldwide leader in testing, training, inspection, consulting and certification, has expanded its footprint in India with a new 2.5 million Euro facility located at Electronic City in Bengaluru.
Misfortunes have come in battalions for textile exporters ? firstly GST dilemma, then, hardening of rupee and now the axe on duty drawback rates. An exclusive ITJ Report throws some light on the issue.
The State Industries Department of Bihar has signed an MoU with the National Handloom Development Corporation (NHDC) to provide yarn on credit to weavers for 45 days. Bihar, in fact, became the first State in the country to sign such an agreement with NHDC and the State Industries Department has created a corpus of Rs 1 crore for this scheme.
The man-made fibres (MMF) and yarns were slotted under 18 per cent GST rate while the fabrics were slotted under 5 per cent GST slab with a condition that no refund of Input Tax Credit would be allowed at fabric stage.