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Saturday
April 2018
1:21 PM IST
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CPM amends resolution to allow 'electoral understandings' with Cong        CSK fans head for Pune on special train        Gayle storm blows away Sunrisers        Monetise Air India assets rather than selling stake: SJM to govt        Iraq says it carried out air raid against IS in Syria        Diaz-Canel is Cuba's new president as Castro steps aside        BJP may rope in Swami Aseemanand to work in West Bengal        SC website down amidst fears of hacking        L-G approves proposal to compensate consumers for unscheduled power cuts in Delhi        Loya death: SC says attempts to scandalise judiciary, dismisses pleas        Nawaz Sharif, daughter leave for London        Former US first lady Barbara Bush dead at 92        Manmohan Singh on Kathua, Unnao rape cases: ‘PM Narendra Modi should follow own advice to me, speak more often’        Kathua rape ‘barbaric’, says President Kovind        KKR breach Rajasthan fortress at Jaipur, beat RR by 7 wickets        Virat Kohli downbeat despite smashing IPL run record        BJP ministers in J&K government asked to resign, to be replaced with new faces        Banks are unable to meet the demand for cash, says ATM industry        India, Sweden to enhance cooperation in defence, cyber security        Castro set to step aside as Cuban president, his reforms incomplete        
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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.


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