Sunday, October 2, 2016

The Marwari Shopping fiesta 2016

The Marwari Shopping fiesta is a 1 day event being held on 17th October 2016 at the Bhatiawadi Hall in Mumbai, India. This event showcases product from Apparel & Clothing, Gems & Jewelry, Gifts & Handicrafts industries. the richness of our roots, the charm of our culture and the face of our fashion and many more

17 Oct 2016 ( remind me )
Bhatiawadi Hall, Mumbai, India

http://10times.com/marwari-shopping-carnival-fiesta

    Tax rebates for garment export

    Tax rebates for garment export
    The rebate will be disbursed by the Customs along with duty drawback

    The ministry of textiles has notified a scheme for Rebate of State Levies on Export of Garments (ROSL). This, first of its kind, has unique features and will apply with 'Let Export Order' dates from September 20 onwards.

    The scheme seeks to rebate state value added tax or central sales tax on inputs, including packaging and fuel, duty on electricity generation and duties, and charges on purchase of grid power, as accumulated through the stages of production from yarn to finished garments. The ministry has notified the rebate rates for all items covered under chapters 61 and 62 of the All Industry Rates of drawback. Usually these are between one and two per cent of the FOB value for those availing of the special advance authorisation scheme and between three and four per cent of the FOB value for those claiming duty drawback. The scheme is valid for three years but the government can change the rebate rates any time.




    An attention-grabbing condition of the scheme is that the rebate will be available for exporters who have constituted an Internal Complaints Committee (ICC), where applicable, in pursuance of the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013. A declaration to that effect will have to be given to the Customs at the time of claiming the rebate.

    The rebate will be disbursed by the Customs along with duty drawback. The scheme is optional. So, the exporter claiming the benefit has to make a suitable declaration to the Customs regarding his eligibility for the rate and rebate, acceptance of the terms and conditions of the ROSL scheme, that he has not claimed and shall not claim the credit or rebate or refund reimbursement of the specific taxes that comprise the rebate of state levies under any other mechanism and also that he has constituted an ICC.

    The Central Board of Excise and Customs (CBEC) has issued a detailed circular, clarifying various aspects of the scheme. It says the claim-cum-declaration of eligibility has to be made by the exporter on drawback exports at item level. The drawback exports (shipping bill or bill of export) may be standalone or in combination with other schemes. For the EDI (electronic data interchange) shipping bill, selection of the scheme code involving the ROSL scheme at the time of export shall itself amount to making a claim- cum-declaration of eligibility. For the EDI shipping bill, this shall be the only means to make the claim. If a need for a manual shipping bill arises, only then will the exporter printing the claim-cum-declaration on the shipping bill be accepted. No claim for rebate shall lie except in this manner, says CBEC.

    Mostly, the conditions such as realisation of export proceeds that are applicable for sanction of drawback are equally applicable for rebates under the ROSL scheme but it is the ministry of textiles that will check the integrity of the declarations of eligibility under the scheme, and also initiate proceedings for recovery of any amount paid in excess or not payable to any exporter.

    This is the first time the central government has agreed for a rebate on the taxes and other levies of state governments. Now that the garment sector has got relief, exporters in other sectors will be equally justified in claiming similar relief.

    http://www.business-standard.com/article/economy-policy/tax-rebates-for-garment-export-116091100689_1.html

    Jaipur’s Kagzi Group enters women’s garments sector

    Jaipur’s Kagzi Group enters women’s garments sector

    September 22, 2016:
    Jaipur-based entrepreneur Mohammed Arif Kagzi is looking to reverse the trend — from online retailing to brick-and-mortar stores — to sell premium women’s garments brand Kashana.

    “As against websites that offer heavy discounts, we have an advantage of lower inventory cost and economy of scale in manufacturing these garments. Therefore, we will be able to price it more competitively and be successful in offline retailing,” said Kagzi. The garments will be sold via Kagzi Apparels, an arm of Kagzi Group, known for its handmade paper.

    Having a combined group turnover of ₹100 crore, the Kagzi Gorup has its own textile processing and garments division in Rajasthan. As a part of forward integration, it plans to set up physical retail outlets through a mix of company-owned and franchisee stores nationwide.

    “We have strong backward integration, from fabric to garments. Branded retailing is our step forward in the value chain,” said Kagzi.

    The group has a textile processing facility in Sanganer, a hub for the textiles and handmade paper industries.

    It also has a garment making facility at Sitapura near Jaipur with an installed capacity of 2,50,000 pieces a month.

    The group plans to manage inventory by adjusting the production according to demand, said Kagzi, adding: “For the distributors, unlike other branded garment companies, we will provide up to 80 per cent stock correction in the unsold stock. Every 15 days we will introduce new designs and patterns. This will also reduce the burden for retailers.”

    The company plans to set up 50 retail stores across India over the next year, of which 10 will be opened in three months. The first will be in Udaipur.

    Source: http://www.thehindubusinessline.com/companies/jaipurs-kagzi-group-enters-womens-garments-sector/article9136743.ece

    What is Garments meanings ?

    Meaning of Garments is "A garment is a piece of clothing". The area of New York City where clothes are manufactured is known as the Garment District.
    Derived from the French word for "equipment," garment is a somewhat generic term you can use when the specific kind of clothing you're describing is not the point. A dress, for example, is a dress, and pants are pants. They are not the same thing, unless you refer to them both asgarments, in which case they are the same thing.

    Source: https://www.vocabulary.com/dictionary/garment

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