Assembly passes Bill to bring ATF, Natural Gas under JK Motor Spirit & Diesel Oil Act

BK Business Desk
February 13, 2018 BUSINESS 50 Views

Srinagar: The Legislative Assembly today passed a Bill to amend the Jammu and Kashmir Motor Spirit and Diesel Oil (Taxation of Sales Act, Svt.2005 (1948 AD).
The amendment Bill was moved in the House by the Minister for Finance, Dr Haseeb Drabu.
The Bill envisages bringing Air Turbine Fuel (ATF) and Natural Gas, presently out of the purview of SGST Act-2017, under the ambit of Jammu and Kashmir Motor Spirit and Diesel Oil (Taxation of Sales Act, Svt.2005 (1948 AD).
Explaining the statement of objects and reasons, the Finance Minister, said the move would ease out the business compliance as also reduce the cost of collection of these taxes and would also ensure that all petroleum products will fall under the single legislation.
Legislators, Devender Singh Rana and Nawang Rigzin Jora participated in the discussion.
After thorough discussions, the Bill was passed through voice vote.
The Bill was later also passed by the Upper House also where it was moved by Minister for Rural Development, Panchayati Raj, Law and Justice, Abdul Haq Khan.

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