17
Wednesday
January 2018
6:21 PM IST
News Headlines
Home   | Main News   | Kerala  | National   | International  | Business   | Sports   | Entertainment   | Columns   | Offbeat   | About Deepika 
Business News
Jammu and Kashmir joins GST from today
 
New Delhi, Jul 8 (PTI) Jammu and Kashmir, the only state that missed the July 1 rollout date of Goods and Services Tax (GST), today joined the new indirect tax fold making GST a true 'one nation, one tax' regime.

President Pranab Mukherjee promulgated today two ordinances -- the Central Goods and Services Tax (Extension to Jammu and Kashmir) Ordinance, 2017 and the Integrated Goods and Services Tax (Extension to Jammu and Kashmir) Ordinance, 2017 -- extending the domain of Central GST Act and the Integrated GST Act to the state from July 8.

The Jammu and Kashmir Goods and Services Tax Bill 2017 was adopted by the state assembly yesterday.

With this, the Union Ministry of Finance said, Jammu and Kashmir has become part of the GST regime, making GST "truly a 'one nation, one tax' regime".

"Congratulations to the Mehbooba Mufti led PDP-BJP Government of J&K for making the GST constitutionally possible in the state," tweeted Union Finance Minister Arun Jaitley.

GST was rolled out in the country on July 1 with much fanfare marked by a midnight programme in Parliament that was attended by Mukherjee and Prime Minister Narendra Modi, among other dignitaries.

However, because of the special provisions applicable to Jammu and Kashmir, extra steps had to be taken before the state could come under the GST fold.

On July 6, the state had taken the first step towards adopting the GST regime with the President of India giving assent to the Constitution (Application to Jammu and Kashmir) Amendment Order, 2017.

Resultantly, the One Hundred and First Amendment Act, 2016 to the Constitution of India that paved the way for introduction of GST in the country, became applicable to the state of Jammu and Kashmir also.

Following this, the Jammu and Kashmir Goods and Services Tax Bill, 2017 was passed by the State Legislature yesterday, empowering the state to levy State GST on intra-state supplies with effect from July 8.


Sensex hits 35,000 mark as IT stocks lead gains
Bitcoin, other cryptocurrencies tumble on government crackdown worries
Sensex, Nifty extend gains to hit fresh highs
Passport may no longer serve as address proof
Rupee extends losses against US dollar in late morning trade
Stocks scale fresh record high as Coal India spurts
Sensex at new high on fund inflows; Nifty above 10,600
CBDT relaxes norms for MAT on firms facing insolvency
Indian ports set to double their profit: Gadkari
Sensex, Nifty hit new record high on fund inflows
Gold strengthens on sustained demand, silver recovers
Govt extends compulsory jute packaging for foodgrains, sugar
Sensex succumbs to late sell-off; auto, IT slip
Anti-dumping duty likely on Chinese chemical imports
Rs 39 lakh cr needed for infra in urban areas until 2032: Puri
Sensex trade flat, marginally up 9 points in late morning
Sensex advances 30 points; rupee gains 15 paise vs USD
Mukesh Ambani’s Reliance Jio to acquire mobile business assets of Anil Ambani’s RCom
Mercedes-Benz to launch new Maybach S 650 at Auto Expo 2018
Sensex stays flat, investors cautious on F&O expiry
KERALA NEWS
State gears up for second literacy movement
 (Thiruvananthapuram, Jan 17, 2018): Kerala -- declared the first complete literate state in t  
Charge sheet leak: Court orders probe
Bar bribery: No evidence against KM Mani says Vigilance
Investigation team toughens stance against Dileep
INTERNATIONAL NEWS
'7 ethnic Rakhine killed as Myanmar police open fire at riot'
 (Yangon, Jan 17, 2018): Myanmar police opened fire on a crowd of ethnic Rakhine Buddhists as
Japan broadcaster mistakenly flashes missile alert
North Korea calls Trump nuclear button boast the 'bark of a rabid dog'
Rocket lands in Indian Embassy premises in Kabul, no casualties: MEA
NATIONAL NEWS
Padmaavat producers move SC against ban by various states
 (New Delhi, Jan 17, 2018): The Supreme Court today agreed to hear the plea of producers of co
No immediate necessity to float party, says Dhinakaran
Defence Minister Sitharaman flies in Sukhoi-30 MKI
NSA Ajit Doval attends BJP ‘poll meeting’, CPI(M) urges EC to probe
Untitled Page
Rashtra Deepika LTD
Copyright @ 2017 , Rashtra Deepika Ltd.