'Non-implementation of GST against JK interests'

Alain Brian
Мая 20, 2017

Expressing its disappointment, the association said, "the effective tax rate of 40 per cent on these products under the GST regime is against the stated policy of maintaining parity with the existing weighted average tax which is significantly below 40 per cent". The decision was taken by Finance Minister Arun Jaitley in a meeting of GST council.

At present, telecom consumers are charged 15 per cent in form of tax and cess over their phone bills. Kerala also favours revenue neutral fitment of tax rates so that it does not lead to either drop or rise in tax revenues of the government. "Gold is not an essential commodity. It is not a commodity for the poor".

Finance Ministers, Finance Secretaries and taxation officials of various states and union territories are participating in the two-day meeting being held at the Sher-e-Kashmir International Convention Centre (SKICC) in Srinagar.

He said, "GST is beneficial for states which are importing goods from other states and we are importing everything".

Jammu and Kashmir Finance Minister Haseeb Drabu is reported to have said, "We could look at agreements that the GST council is expected to reach during its consultations as a "Srinagar Declaration". "So, some changes have to be made", he saif, further adding, J&K was mulling over bringing the real estate section under the GST.

The GST that is all set to be rolled out from July 1, a meeting of the GST council is in progress in Srinagar.

Amid growing unrest in Jammu and Kashmir and the perception of its difference from the rest of the country, the government seems to be sending out a strong signal to everyone about not only the importance of the valley but also of the intent to bring back normalcy to it. Services are likely to be placed in two slabs of 12 per cent and 18 per cent, with a likely status quo for now exempted services.

Currently, there are 17 items in the negative list of services on which service tax is not levied.

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