The Southern India Mills’ Association (SIMA) has been organising the international textile machinery, accessories and spares exhibitions known as Texfair since the year 2001 for the mutual benefit of the supplier and user industries.
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In the GST regime, countervailing duty has been replaced with IGST and the special additional duty has been scrapped. Polyester attracted 10 per cent basic customs duty, 12.5 per cent CVD and 4 per cent special additional duty in pre-GST regime.
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.
P Nataraj, Managing Director of KPR Group, who has now been elected as the new Chairman of The Southern India Mills’ Association (SIMA), highly appreciated the bold and proactive initiatives taken by the Prime Minister, Narendra Modi and Union Textile Minister, Smriti Irani.
The Southern India Mills Association (SIMA) has elected P Nataraj, Managing Director, K P R Mill Limited, Coimbatore as the Chairman for the year 2017-18. He was unanimously elected as the chairman in the 58th AGM.
The 11th edition of the Textile Pinnacle (Texpin) by the Southern India Mills’ Association (SIMA) will focus on ‘Textile Industry-Towards 2020’.
M Senthilkumar, Chairman, The Southern India Mills’ Association (SIMA) has welcomed GST era for the textile industry and highly appreciated the NDA Government especially the Union Textile Minister, Smriti Irani