Life affected in Kashmir due to strike called by traders against GST

Goods and Service Tax rehearsal scheduled for Wednesday night

Goods and Service Tax rehearsal scheduled for Wednesday night

The event to launch the GST will be held in the circular-shaped Central Hall, which witnessed a function to mark 50 years of Independence, and will be attended by President Pranab Mukherjee, Prime Minister Narendra Modi, Finance Minister Arun Jaitley and a host of senior ministers and bureaucrats, among others. "This new tax regime would accelerate the country's economic growth especially of Jammu and Kashmir".

Jaitley said the government has kept the items of daily usage under a lower tax bracket.

The People's Democratic Party-Bharatiya Janata Party-led state government is pushing for a consensus over the bill as Jammu and Kashmir is the only state yet to pass the law for rolling out GST.

Tax analysts said that there is ambiguity regarding the applicability of GST to J&K.

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GST was meant to simplify Indian tax regime by unifying the entire country into a single market with one tax rate.

Citing price rise and "adverse impact" to local industry in J&K in case of deferment of the rollout, Jaitley had asked her to send the concurrence of the state on the the GST's Constitution (One Hundred and First Amendment) Act, 2016, as the President may specify by order.

A statement issued after a meeting of the JKPCC executive panel under the chairmanship of party unit chief G A Mir said, "It is the duty of the government to take steps to ensure the timely implementation of the GST, if they are honest".

The Federation is an amalgam of various trade bodies across Kashmir and has called for the Valley-wide protests and shutdown. The GST will be collected on everything, from matchboxes to gold.

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In an attempt to take the sting out of opposition that the goods and services tax (GST) is against farmers' interest, the GST Council on Friday cut the tax rate on fertiliser from 12 per cent to 5 per cent and exclusive parts of tractors from 28 per cent to 18 per cent.

"If we talk of bringing a separate law, the Centre will have to amend two chapters in the constitution to delegate powers of taxation to Jammu and Kashmir".

Meanwhile, in the absence of GST, there is no possibility of any trade in taxable goods in Jammu and Kashmir. It will become a huge political issue across the country. "Government which blinks is never able to reform", Jaitley said.

According to Drabu, non-implementation of GST in J&K will likely have fallouts.

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