‘We will hold broad based discussion on GST: Drabu
Srinagar, Jun 07: The Jammu and Kashmir government will hold a special Assembly session on discussion and extension of Goods and Services tax to the state from 17th of this month.
Announcing the decision of holding the session, Finance Minister Dr Haseeb Drabu said that the session will convene from June 17 (Saturday).
“We will hold broad based discussion on extension of GST to Jammu and Kashmir,” Drabu said in a press conference.
As per KNS correspondent, the finance minister said that the decision was taken in the Cabinet headed by the Chief Minister Mehbooba Mufti today in Civil Secretariat.
He said that the extension of GST has three aspects- constitutional, administrative and legal. “All these aspects will e discussed in the assembly,” he said.
He said that the extension of GST does not infringe the Article 370 as Jammu and Kashmir has separate constitution and tax laws are implemented under Section 5 of the constitution.
Drabu said that the government will review after five years the experience of GST in the state.
“If we don’t extend GST to the state, no business can be properly done in JK as two taxes will be imposed in the state,” he said.
He said that GST is a “consumption” tax and the state will gain Rs 60-70 crore additional revenue.
He said that GST is a modified version of VAT and under GST there can’t be any tax exemptions. (KNS)