Above: Finance Minister Arun Jaitley. Photo: UNI
Bringing Jammu and Kashmir in to the “one nation one tax” regime, Lok Sabha today passed a legislation extending the Goods and Services Tax (GST) to the state. The bills were introduced by Finance Minister Arun Jaitley. The house passed the two bills— the Central Goods and Services Tax (Extension to Jammu and Kashmir) Bill, 2017, which would facilitate levying of GST in the state and the Integrated Goods and Services Tax (Extension to Jammu and Kashmir) Bill, 2017 for levying the inter-state movement of goods. The Bills will replace the ordinance promulgated by the President while extending provisions to the state. The Bills were passed amidst the Opposition’s protests over the tax being aimed at infringing the state’s special status whereas the finance minister called it necessary for the benefit of the state’s traders and consumers.
—India Legal Bureau