It’s one India, one tax as J&K accepts GST
The J&K legislative assembly adopted on Wednesday a resolution to implement the goods and services tax in the state, paving the way towards a truly “one India, one tax system”. J&K was the only exception when other states implemented GST on July 1. The resolution was moved by state finance minister Haseeb Drabu and passed by voice vote despite resistance from the opposition.
The legislative council, too, adopted the resolution by voice vote. The resolution moved by finance minister Drabu also called for a presidential order to safeguard J&K’s special status and its power to set its own taxes.
“Section 5 (J&K Constitution) and Article 370 of the Constitution (of India) will remain unchanged,” Drabu assured those opposing the resolution during the special session. Section 5 of the J&K statute gives the state exclusive powers of taxation.
The opposition National Conference, CPM and Congress, however, demanded safeguards for the state’s special status under Article 370 and said the assurances of the ruling PDP-JP were vague.The opposition urged the government to make its own GST law, as it had done for VAT. To this, Drabu said an alternative law would require amending the Constitutions of J&K and of India.
“Amending Section 5 of the J&K Constitution will open a Pandora’s box. Instead, what we are proposing is that the GST Council must come within the ambit of Article 370,” he said.
BJP members tried to allay fears about GST. “There will not be any effect on Article 370, which is sacrosanct,” BJP legislator R S Pathania said. State finance minister Drabu added: “We are proposing that Article 370 shall not be compromised in any way…” We look forward for your valuable comment www.carajput.com
FOR FURTHER QUERIES CONTACT US:
W: www.carajput.com E: singh@carajput.com T: 011-233-4-3333, 9-555-555-480
CSR Policy: Activities under Schedule VII and CSR Implementation through Eligible Agencies The framework of Corporate Social Responsibility (CSR) under… Read More
CSR through Zero Coupon Zero Principal (ZCZP) Instruments: Detailed Analysis of Rule 4A The Ministry of Corporate Affairs (MCA) introduced… Read More
CSR Compliance for Insurance Companies: Detailed Analysis of IRDAI Guidelines The Insurance Regulatory and Development Authority of India (IRDAI) has… Read More
Social Stock Exchange (SSE) & Not-for-Profit Organizations (NPOs): Detailed Explanation The Social Stock Exchange (SSE) is a dedicated platform created… Read More
Social Stock Exchange (SSE): Eligibility, Registration, Fund Raising & Compliance Requirements The Social Stock Exchange (SSE) framework introduced by SEBI… Read More
Key Managerial Personnel (KMP) Under the Companies Act, 2013: Roles, Appointment, Compliance and Remuneration Effective corporate governance begins with strong… Read More
