J&K to miss nation's tryst with GST

GST Rollout in J&K in next few days Piyush Goyal

The APCG, headed by former deputy Chief Minister and senior PDP leader Muzaffar Hussain Baig, has again called a meeting this afternoon to reach any consensus on the implementation of the GST.

According to local media reports, several trade bodies have called for a "Kashmir bandh" on Saturday, July 1.

Barring J&K, all states have implemented the initiative that would create a unified tax across the country.

"The way ahead to harmonise GST in the state could be by extension of only such limbs of the Constitutional Amendment 101 to the state which are already applicable to Jammu and Kashmir in one form or another with some other provisions of technical nature required for harmonisation of our taxation structure with the new tax regime", Dr Drabu said. The state government could also take a hit as it will be ineligible for compensation for any potential losses as the GST (Compensation to States) Act, 2017 specifically provides for any compensation to kick in from the transition date, which implies the date on which the SGST Act comes into force in the state concerned. The meeting was the second such attempt by the state government to iron out differences.

The last meeting of the consultative group was boycotted (by National Conference and Congress), Drabu said, adding "but we still tried".

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In an exclusive interview with Mihir Bhatt of Zee Business, the finance minister discussed the benefits that would accrue to the economy from GST, the advantages of multiple tax slabs, and the measures the government would take against offenders.

Earlier, a special session was called by the government from June 17 but it was adjourned sine die after an obituary session was held. He added, "Besides, it will entail amending Section 5 of J&K Constitution which can't be done". "We are hoping to send it for President's approval the next day", Drabu told Hindustan Times.

India on July 1 launched the much awaited GST system that is billed as the largest ever tax reform undertaken by the country since independence.

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 Opposition voiced concerns regarding losing fiscal autonomy of the state if the central law is extended to the state without protection of J&K's own taxation powers.

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