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Govt rehearses GST launch in Central Hall of Parliament

Govt rehearses GST launch in Central Hall of Parliament

Govt rehearses GST launch in Central Hall of Parliament

Officials said that another session of legislature would be held from July 4 to allow members to speak on the issue so that GST is implemented after addressing the concerns of the people of the state, particularly opposition and traders who are up against it.

The Kashmir Inc is also up in arms and Kashmir Traders and Manufacturers Federation (KTMF) called for one-day shutdown on Saturday against what it alleged is the government's agenda to implement GST in the State despite stiff opposition from various quarters.

In a letter to Chief Minister Mehbooba Mufti, Jaitley had said that the state has actively participated in the GST deliberations and should join the nation-wide wide roll out of Goods and Services Tax from July 1.

A while ago, SP leader Naresh Agarwal, termed the new indirect tax regime GST as a black law which the party opposes.

On the other hand, keeping the tax incidence under the new regime close to the current levels could encourage several small and unorganised players to move to an organised reporting structure, widening the tax net and bringing additional revenue for the government.

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The opposition parties, including NC and Congress, reiterated on Thursday that the PDP-BJP government was unable to clarify how they would protect state's fiscal autonomy.

He also assured that the government had taken into account the fact that states did not have to suffer losses and that new rates had been kept as close to old rates as possible.

Mukherjee had piloted the first Constitutional Amendment Bill to bring in GST in 2011 when he was finance minister with the previous UPA government. We can not compromise on fiscal autonomy and let the tax base shift to the centre. Meanwhile, the coalition partners, particularly Finance Minister Dr Haseeb Drabu has time and again taking pains to explain to people and opposition besides traders that GST will never ever weaken the special status of the state or traders.

Finance Minister while answering to the questions of reporters said that false information is being spread that state has no control on exemptions. Rather, the former chairman of the GST Council had earlier demanded adequate safeguards before extending the amendment to Jammu and Kashmir. However, he insisted there are adequate safeguards that will make GST implement nearly a seamless issue with obvious teething problems initially. Besides, it will also entail amending Section 5 of J&K Constitution which can't be done. "Under the new tax regime, the special position and Article 370 will not be eroded".

Goods and Services tax (GST), the much awaited economic reform, is all set to be launched after two days.

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