JK & GST regime 

July 10, 2017 0 Comments EDITORIAL 123 Views
JK & GST regime 

Jammu and Kashmir has finally rolled out the Goods and Services Tax (GST) across the State with the government promising that the State’s special status and constitutional rights won’t be compromised. The government  on hand boosted about it saying it was a historic decision, the opposition still expresses it’s doubts. The GST in lucidity means an indirect tax applicable throughout India which replaced multiple cascading taxes levied by the central and state governments. It was introduced as The Constitution (One Hundred and First Amendment) Act 2017[1][2], following the passage of Constitution 122nd Amendment Bill. The GST is governed by a GST Council and its Chairman is the Finance Minister of India. Under GST, goods and services is taxed at the following rates, 0%, 5%, 12%, 18%, 28%. The row over the GST implementation continues.The Finance Minister of the state Dr Haseeb Drabu’s office had sent letters to the members of the committee. Jammu and Kashmir is all set to witness a charged atmosphere over the new Goods and Services Tax (GST) bill and both the coalition government and opposition are on a collision course. Though the general public does not know much about the law that was passed by the Jammu and Kashmir Assembly to pave way for this central legislation,  No doubt that the government hurried at the last moment to see that this law was seen through first by the cabinet and later by the assembly but it raised many questions about how state would fit in the overall tax regime that was being rolled out by the Centre from July 1. Any law linked to state’s special status surely raises eye brows and the concern then shapes up in a public discourse. In this case the issue of financial autonomy has also been raised and that is why the premier trade bodies such as Kashmir Chamber of Commerce and Industry (KCCI) had joined the bandwagon thus expanding the scope of agitation. Even as the government tried to reach out to opposition, the National Conference couldn’t made their points after claiming that it wouldn’t allow government to go ahead with the law without clarifying the confusion it had created during the All Party Meeting. Reacting to Union Minister Jitendra Singh’s comment that BJP didn’t surrender on the issue of GST, former Chief Minister Omar Abdullah had remarked that  everyone knows that it is the Peoples Democratic Party (PDP) that ‘surrendered’ in this relationship.  Jammu Kashmir Coordination Committee- an amalgam of Kashmir-based trade bodies and a civil society had warned the government and the legislators against any attempt to introduce or pass any order or a piece of legislation to extend the 101st amendment with regard to Goods and Service Tax (GST) Act to the State in its original form. Now that the State is under GST regime, observes believe that a lot more is believed to be in offing in coming months, as the challenges posed by the new law would through to the government. Many challenges are going be cropping up for the state adminstration as well as the crisis in many sectors have already started being reported. The government in this regard has been issuing advertisements to the general public regarding the misuse of the GST by some vested interest to loot the masses.

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