Home / Knowledge / News / Textiles / Jammu & Kashmir joins GST regime
Jammu & Kashmir joins GST regime
07
Jul '17
Jammu and Kashmir has become the last state of the country to join the Goods and Services Tax (GST) rolled out from the 1st of this month. The state Legislative Assembly adopted the state GST Bill 2017 by a voice vote after opposition members boycotted the proceedings. The GST will come into effect in the state from midnight of July 7-July 8.

Prior to moving the bill in the state assembly, finance minister Haseeb Drabu read out the contents of the presidential order pertaining to the special status of the state and its exclusive taxation powers. “Notwithstanding anything contained in this order, the powers of the state of Jammu and Kashmir as per Section 5 of the Constitution of Jammu and Kashmir, shall remain intact,” Drabu said.

“The legislature of the state of Jammu and Kashmir shall have the powers to make laws with respect to goods and services tax levied by the state,” Drabu read from the excerpts of the order pertaining to the special status and exclusive taxation powers of the state.

The legislature of the state of Jammu and Kashmir shall have exclusive powers to make laws in respect of imposition of any taxes enabled by section 5 of the Constitution of Jammu and Kashmir, he added.

Notwithstanding anything contained in clause 4 to clause 11 for the purpose of any decision impinging on constitutional provisions relating to the state of Jammu and Kashmir, the concurrence of the representative of the state of Jammu and Kashmir in the GST Council shall be mandatory and the procedure provided under Article 370 shall be followed, the presidential order reads. (RKS)

Fibre2Fashion News Desk – India


Must ReadView All

Pakistan’s FBR imposes 5% sales tax on cotton import

Textiles | On 21st Jul 2018

Pakistan’s FBR imposes 5% sales tax on cotton import

Pakistan’s Federal Board of Revenue recently withdrew sales tax...

Bangladesh drafts policy for Tk1,000 cr govt jute fund

Textiles | On 21st Jul 2018

Bangladesh drafts policy for Tk1,000 cr govt jute fund

Bangladesh will set up a Tk10,000-crore Jute Sector Development Fund...

Ahmad A. Al Sa’adi and Kwon Pyung-Oh display a comprehensive Memorandum of Understanding; Courtesy: Saudi Aramco

Textiles | On 21st Jul 2018

Saudi Aramco, KOTRA sign MoU for business cooperation

Saudi Aramco has signed an MoU with the Korea Trade-Investment...

Interviews View All

Stefan Warnaar
Peak to Plateau

People are willing to pay for quality and performance

Amrit Sethia
SOIE

‘The intimatewear category in India is slowly becoming trend-sensitive.’

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Tejas N Patel, Navin D Patel

Founded in 1999 by Navin Patel in the name of Tejas Fabrics with 100...

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


July 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search