Srinagar, July 7 (IANS) The pan-India Goods and Services Tax (GST) regime is likely to be implemented in Jammu and Kashmir from Friday midnight ending all suspense and speculations on whether the state would become part of the ‘one country, one tax’ system.
The presidential order extending Amendment 101 to the state was received here earlier on Friday.
Following this, the state assembly in session took up the Jammu and Kashmir State-GST Bill for discussion and adoption.
State Finance Minister Haseeb Drabu said: “It will be a special GST, but not a separate GST.”
“It will protect the autonomy we have and strengthen it further.”
A Raj Bhawan spokesman said: “The presidential order contains safeguards to maintain the special status of the state and the legislative powers under the Constitution of Jammu and Kashmir.”
After the bill is passed by the state legislature, the State-GST Act 2017 would come into force and Jammu and Kashmir would become part of the GST regime like the rest of the country.
Opposition National Conference boycotted the assembly session calling the passing of the GST resolution on July 5 “a sham”.
Independent MLAs also abstained in protest.
Congress legislators, however, attended the session, but later walked out.