Jammu & Kashmir Assembly passes resolution to implement GST in the state

Jammu & Kashmir Assembly passes resolution to implement GST in the state

Kashmir, Kashmir -IOP Comments Off 5
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NEW DELHI: The Jammu and Kashmir Legislative Assembly adopted the Goods and Services Tax (GST) resolution during a special session on Wednesday.
The state assembly passed the landmark tax reform during a special session, after two days of heated exchanges and fiery debates between BJP members and the opposition.
The resolution moved by state Finance Minister Haseeb Drabu, was adopted through a presidential order calling on the Centre to safeguard the special status and exclusive taxation powers of the state. With this, all the states have implemented the Goods and Services Tax.
The amendment to the Constitution last year enabled the Centre to roll out the new tax regime across the country.
State BJP chief Sat Sharma claimed that the revenues of Jammu and Kashmir would go up by Rs 10,000 crore annually after the implementation of GST.
However, opposition NC and Congress members had opposed the new tax regime in its current form and demanded a separate bill in the Assembly, which would safeguard the special taxation powers enjoyed by the state under Article 370 of the Constitution.
Meanwhile, businesses remained shut in the state as traders and civil society members called for an anti-GST shutdown.

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