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Monday , 11 December 2017
Breaking News

Jammu & Kashmir opens the door to GST

Newspatrolling: In a welcome development that is likely to boost the economy of Jammu & Kashmir, the state assembly today passed a resolution for the implementation of the Goods and Services Tax (GST) in the state. There were strong protests from the opposition parties, but the majority ruled in favor of the resolution that would allow implementation of GST in the state. The opposition parties were claiming that GST would undermine special status given to the state of Jammu & Kashmir. Presently, the GST Act, which was launched on July 1, does not apply to Jammu & Kashmir.

However, with the resolution passed, GST can now be implemented in Jammu & Kashmir. The state assembly will now forward the resolution to President Pranab Mukherjee, who in turn, will pass a Presidential Order to extend GST to Jammu & Kashmir.

The resolution clearly states that GST will not affect the constitutional status of the state. It also says that provisions have been made to protect the fiscal autonomy of the state. The passage of the resolution also shows that a compromise has been reached between the ruling partners, PDP and BJP.

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