26
Tuesday
September 2017
9:48 PM IST
News Headlines
Home   | Main News   | Kerala  | National   | International  | Business   | Sports   | Entertainment   | Columns   | Offbeat   | About Deepika 
Business News
Jammu and Kashmir joins GST from today
 
New Delhi, Jul 8 (PTI) Jammu and Kashmir, the only state that missed the July 1 rollout date of Goods and Services Tax (GST), today joined the new indirect tax fold making GST a true 'one nation, one tax' regime.

President Pranab Mukherjee promulgated today two ordinances -- the Central Goods and Services Tax (Extension to Jammu and Kashmir) Ordinance, 2017 and the Integrated Goods and Services Tax (Extension to Jammu and Kashmir) Ordinance, 2017 -- extending the domain of Central GST Act and the Integrated GST Act to the state from July 8.

The Jammu and Kashmir Goods and Services Tax Bill 2017 was adopted by the state assembly yesterday.

With this, the Union Ministry of Finance said, Jammu and Kashmir has become part of the GST regime, making GST "truly a 'one nation, one tax' regime".

"Congratulations to the Mehbooba Mufti led PDP-BJP Government of J&K for making the GST constitutionally possible in the state," tweeted Union Finance Minister Arun Jaitley.

GST was rolled out in the country on July 1 with much fanfare marked by a midnight programme in Parliament that was attended by Mukherjee and Prime Minister Narendra Modi, among other dignitaries.

However, because of the special provisions applicable to Jammu and Kashmir, extra steps had to be taken before the state could come under the GST fold.

On July 6, the state had taken the first step towards adopting the GST regime with the President of India giving assent to the Constitution (Application to Jammu and Kashmir) Amendment Order, 2017.

Resultantly, the One Hundred and First Amendment Act, 2016 to the Constitution of India that paved the way for introduction of GST in the country, became applicable to the state of Jammu and Kashmir also.

Following this, the Jammu and Kashmir Goods and Services Tax Bill, 2017 was passed by the State Legislature yesterday, empowering the state to levy State GST on intra-state supplies with effect from July 8.


Indiabulls Housing Fin raises Rs 2,000 cr via bonds
Govt seeks asset valuer for Air India stake sale
'Railways looking at ways to speed up electrification process'
'Tax on fuel more important for a dry state like Gujarat'
Working with FinMin, Niti Aayog to resolve exporters' issues
WEF: Davos meet to focus on cooperation in fractured world
18 of the 43 McDonald's outlets in capital reopened: Bakshi
Heavy rains halt operations at airport, many flights affected
Manmohan takes potshots at note ban, 'hasty' rollout of GST
Fuel prices may come down by Diwali: Pradhan
Forex reserves top $40000 crore for FIRST time
PM Modi and Japan's Abe launch Indian shinkansen project
'India well on path to produce 50 cr mobile phones by 2020'
Cong hits out at centre over petrol prices
15 Japanese firms to invest in Gujarat
70% people want scrapped Rs 1000 note back, claims survey
Rupee recovers 6 paise against dollar in early trade
Sensex gains 57 pts in early trade despite rising inflation
'Govt to focus on water grid, highways-cum-airstrips'
IndusInd Bank, Bharat Fin gain up to 5.5% on merger talks
KERALA NEWS
Solar Commission report submitted to Pinarayi Vijayan
 (Thiruvananthapuram, Sep 26, 2017, DG): Th judicial commission formed to investigate the cont  
Court rejects Tomichan Mulakuppadam's second petition too
Dileep's advocate complains about investigation team
Sultan to release Malayalees in Sharjah jail
INTERNATIONAL NEWS
Baghdad orders Kurdistan region to hand over borders, ports
 (Baghdad, Sep 25, 2017):Iraq's central government in Baghdad ordered the country's Kurdish re
Japan's Prime Minister Shinzo Abe Calls Snap Election
Kushner used private email for White House officials, confirms lawyer
Bangla govt dismisses reports about plot to kill Hasina
NATIONAL NEWS
Ancient statue of Goddess Kali found in TN village
 (Dindigul (TN), Sept 26, 2017): An ancient statue of Goddess 'Badhra Kali' has been unearthed
PM Modi wishes Manmohan Singh on birthday
Karnataka HC judge resigns, no reasons cited
Tamil Nadu govt appoints retired judge Justice Arumughaswamy to probe Jayalalithaa death
Untitled Page
Rashtra Deepika LTD
Copyright @ 2017 , Rashtra Deepika Ltd.