GST in Jammu & Kashmir- The Fate is Yet to be Decided

<p style&equals;"text-align&colon; justify&semi;">The Good Services Tax &lpar;GST&rpar; is not applied in Jammu &amp&semi; Kashmir yet&period; It is awaiting presidential orders on the issue which will be dispensed after the special legislative session on 4<sup>th<&sol;sup> July&period;<&sol;p>&NewLine;<h2 style&equals;"text-align&colon; justify&semi;"><strong>GST in Jammu Kashmir<&sol;strong><&sol;h2>&NewLine;<p style&equals;"text-align&colon; justify&semi;">Jammu and Kashmir often denoted as J&amp&semi;K is the only state in India who enjoys autonomy under the article 370&period; This article of the constitution states that no law ordained by the Parliament of India&comma; except those related to defense&comma; communication&comma; and foreign policy&comma; is extendable to this state unless it is approved by the legislature of the state&period;<&sol;p> <div data-ad-id&equals;"2482" style&equals;"text-align&colon;center&semi; margin-top&colon;px&semi; margin-bottom&colon;px&semi; margin-left&colon;px&semi; margin-right&colon;px&semi;float&colon;none&semi;" class&equals;"afw afw-ga afw&lowbar;ad afwadid-2482 "> &NewLine; &NewLine; <div class&equals;"afw&lowbar;ad&lowbar;amp&lowbar;anchor&lowbar;2482"> &NewLine; <amp-ad class&equals;"afw&lowbar;ad&lowbar;amp&lowbar;2482" width&equals;"100vw" height&equals;320 &NewLine; type&equals;"adsense" &NewLine; data-ad-client&equals;"ca-pub-8664180108762952" &NewLine; data-ad-slot&equals;"2608240912" &NewLine; data-auto-format&equals;"rspv" &NewLine; data-enable-refresh&equals;"10" &NewLine; data-full-width> &NewLine; <div overflow> &NewLine; <&sol;div> &NewLine; <&sol;amp-ad> &NewLine; <&sol;div> &NewLine; &NewLine; <&sol;div> &NewLine;<p><img class&equals;"aligncenter size-full wp-image-653" src&equals;"https&colon;&sol;&sol;himachalpradeshtimes&period;com&sol;wp-content&sol;uploads&sol;2017&sol;07&sol;GST-in-Jammu-Kashmir&period;jpg" alt&equals;"GST" width&equals;"703" height&equals;"417" &sol;><&sol;p>&NewLine;<p style&equals;"text-align&colon; justify&semi;">The state has a multi-party democratic system with a bicameral legislature&period; At present&comma; Mehbooba Mufti Sayeed is the chief minister of the state who assured that GST would surely be extended to the state with all safeguards shortly&period;<&sol;p>&NewLine;<p style&equals;"text-align&colon; justify&semi;">J&amp&semi;K Finance Minister&comma; HaseebDrabu stated that they will try to bring in the modified form of this constitutional amendment by July 5&period;<&sol;p>&NewLine;<h3 style&equals;"text-align&colon; justify&semi;"><strong>Effects of non-implementation of GST in J&amp&semi;K<&sol;strong><&sol;h3>&NewLine;<ul style&equals;"text-align&colon; justify&semi;">&NewLine;<li>&NewLine;<blockquote><p>The sources said that the suppliers of fast moving consumer goods have been increased for the last few weeks&period; This is expected to slow down after July amid the inexactitude concerning the applicability of GST<&sol;p><&sol;blockquote>&NewLine;<&sol;li>&NewLine;<li>&NewLine;<blockquote><p>ArunJaitley explaining the drawbacks of non-applicable GST said that consumers from outside the state would pay twice tax in the absence of GST&period; On the other hand&comma; goods sent outside of the state will also face double levy making the things expensive&period;<&sol;p><&sol;blockquote>&NewLine;<&sol;li>&NewLine;<li>&NewLine;<blockquote><p>Secondly&comma; the state will not get the benefit from the center that is given to other states on account of the loss of revenue incurred by the application of GST&period; ArunJaitley commented on this scenario&comma; &OpenCurlyDoubleQuote;Because of such a situation arising&comma; we could have a scenario where Jammu will want to come into the GST regime while Kashmir will not&period;”<&sol;p><&sol;blockquote>&NewLine;<&sol;li>&NewLine;<&sol;ul>&NewLine;<p style&equals;"text-align&colon; justify&semi;"><strong>Expected Consequences of application of GST<&sol;strong><&sol;p>&NewLine;<div data-ad-id&equals;"2485" style&equals;"text-align&colon;center&semi; margin-top&colon;px&semi; margin-bottom&colon;px&semi; margin-left&colon;px&semi; margin-right&colon;px&semi;float&colon;none&semi;" class&equals;"afw afw-ga afw&lowbar;ad afwadid-2485 "> &NewLine; &NewLine; <div class&equals;"afw&lowbar;ad&lowbar;amp&lowbar;anchor&lowbar;2485"> &NewLine; <amp-ad class&equals;"afw&lowbar;ad&lowbar;amp&lowbar;2485" width&equals;"100vw" height&equals;320 &NewLine; type&equals;"adsense" &NewLine; data-ad-client&equals;"ca-pub-8664180108762952" &NewLine; data-ad-slot&equals;"6994208482" &NewLine; data-auto-format&equals;"rspv" &NewLine; data-enable-refresh&equals;"10" &NewLine; data-full-width> &NewLine; <div overflow> &NewLine; <&sol;div> &NewLine; <&sol;amp-ad> &NewLine; <&sol;div> &NewLine; &NewLine; <&sol;div>

Leave a Comment