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01 July 2017, 12:45 | Audrey Hill
FM urges JK to implement GST from Jul 1
J&K government once again failed to convince the Opposition and evolve a consensus on GST, putting a question mark over its implementation in the state.
He also said that in a meeting held with other Trading Organizations it has been decided that in case the State Government doesn't adopt GST, they have no other option but to keep their shutters down till the government accepts their demands.
The government, Arun Jaitley said today, "is committed to the GST as to any other reform process because we believe this is probably the single largest reform in India in 70 years".
Yasin said that the traders of Jammu and Kashmir were not against the tax. "This shall get embedded into the prices of purchased goods or services, leading to cascading of tax and increase in prices of the said goods or services for the final consumers in Jammu and Kashmir", Jaitley said, according to a release by the Finance Ministry on Monday.
The leaders said there appeared to be a lot of confusion and apprehension among various sections of the trading and business community, some of whom are protesting against certain provisions of the new indirect taxation law. "In short, traders can use this PIN and Password to update their current information on the GST portal having URL www.gst.gov.in", Additional Commissioner Department of Commercial Taxes Dr Shameed Ahmed said. "While constitutional amendments are ipso-facto applied to all other states, these can not be extended to J&K until and unless the state government gives its concurrence", he said.
The 101 Constitutional Amendment Act of the Indian Constitution under which the GST would be applicable to all States doesn't apply to J&K as of now. The opposition said the government was unable to present any modified form of GST which would safeguard the fiscal autonomy and special status of the state.
The ruling BJP favours implementation of GST in the State while PDP is moving cautiously and wants to take opposition parties on board. "We are against the implementation of GST in the State as it will infringe the special status of the J&K", he said.
"As far as the Congress is concerned, it has never been against implementation of GST, which is its brain child".
"A more efficient system leads to larger compliances", the finance minister said.
Addressing a roundtable conference in Srinagar on the GST issue, former High Court judge Hasnain Masoodi said that occupied Kashmir would lose its law-making powers on taxation matters once the GST was implemented.
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