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Issues related to GST & export incentives tabled during SRTEPC meet
SRTEPC delegation comprising of Narain Aggarwal and Ronak Rughani, met Suresh Prabhu, Union Minister for Commerce & Industry and Minister of Civil Aviation to appraise him on the GST issues being faced by the MMF segment and export promotion incentives.
ITAMMA celebrates 75th anniversary
It all started in 1988 when BK Mehta, Past-President, Indian Textile Accessories And Machinery Manufacture Association (ITAMMA), categorically suggested that ITAMMA should take up activities which will make its members and the organisation very strong in terms of system, technology and R&D. Considering his passion for R&D, as the members of Managing Committee of ITAMMA on his 70th birthday in 1988 established “BK Mehta Endowment Fund” in appreciation of his yeomen and meritorious services to the association; who was the president of the association in the year 1953, 1962, 1966, 1978 and also as a trustee for four decades. This fund was further strengthened financially from time to time for various activities in the field of technology.
Apparel Index dips on GST impact
Q2 is the first quarter post-GST. And much like other sectors, apparel brands and retailers too were busy putting GST processes in place and sales suffered a big blow. July was the first month when the industry emerged after clearing pre-GST inventories.
RCM under GST worries cotton industry
The issue of Reverse Charge Mechanism (RCM) under GST is worrying the cotton industry, especially the ginners in India. Hence, the Cotton Association of India (CAI) convened a joint meeting of the Presidents and Secretaries of upcountry associations of all cotton growing States in Mumbai
Texfair 2017 in Coimbatore ended on an optimistic note with the textile industry looking forward to a happier 2018.
With more than 50,000 small, medium and large-scale industries and textile mills in an around Coimbatore and Tirupur, an event as big as Texfair, which focuses on textile machinery, accessories and spares, is a must for the Southern market of India. In its 11th edition, Texfair 2017, organised by the Southern India Mills’ Association (SIMA), provided a platform for the stakeholder to zero in their investments and expenses prudently, showcase their inventions and cost effective items and other products, enable the technocrats and shopfloor technicians to update their knowledge on the latest technology and create an awareness on cost cutting, to encourage micro, small and medium entrepreneurs also to showcase their products and get exposure to the market. Texfair 2017 was held from November 17-20, 2017 at Codissia Trade Fair Complex, Coimbatore.
CITI chief hails reforms in GST laws
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
SIMA hails duty hike on imported polyester fabrics
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.