23
Thursday
November 2017
3:20 AM 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.


Sensex goes up 112 pts, Asian leads support
FMCG firms slash prices post GST reduction
43.67 lakh biz file initial GST returns for October
Sensex moves in line with Asia, up 154 pts
Paytm mall to offer accidental damage cover to smartphones
Click pics of illegally parked cars; get rewarded: Gadkari
Rupee slips 5 paise against dollar to 65.06
Moody's rating upgrade: Officials hope others will follow suit
Sensex zooms 414 points after Moody's ups India rating
US dollar ends cheaper against rupee
Indian companies create 113K jobs in US: Report
Cochin Shipyard Q2 net dips 8 pc to Rs 100 crore
Rupee tanks 35 paise to hit 1-wk low; crude plays spoilsport
Sensex hits new record of 33,853.63; Nifty rises 34 pts
Apple to recruit employees from an Indian engineering college this year
Offline version for GSTR-4 launched on GST portal
Jerome Powell-led Federal Reserve could be US dollar-positive in long term
Rly committee suggests new categories for grading stations
Gadkari plans Rs 5-tln bond sale to fund large infra projects
158 crorepatis, 61 with criminal cases in HP polls: ADR
KERALA NEWS
Dileep hated her, says charge sheet
 (Angamaly, Nov 22, 2017, DG): The investigation team probing the sensational actress attack c  
'Harivarasanam' re-recording row: Trust alleges 'conspiracy'
Saseendran is free to return as Minister: Pinarayi
Pinarayi Vijayan advices journalists
INTERNATIONAL NEWS
Trump promises Americans 'huge tax cut' for Christmas
 Washington, Nov 21 (AP) President Donald Trump today promised a tax overhaul by Christmas, even as a
Putin hails Assad for 'fighting terrorists': Kremlin
Iran declares 'victory' over IS
Trump declares North Korea state sponsor of terrorism
NATIONAL NEWS
Brahmos test fired from Sukhoi fighter jet for first time
 (New Delhi, Nov 22, 2017):In a major milestone, the Brahmos supersonic cruise missile was tod
Mulayam justifies police firing on kar sevaks in 1990
Tamil film producer commits 'suicide'
Thieves run away with ATM in Shopian: Police
Untitled Page
Rashtra Deepika LTD
Copyright @ 2017 , Rashtra Deepika Ltd.