22
Monday
January 2018
7:54 PM IST
News Headlines
Home   | Main News   | Kerala  | National   | International  | Business   | Sports   | Entertainment   | Columns   | Offbeat   | About Deepika 
Business News
Mehbooba brushed aside separatists to roll out GST: Jaitley
 
New Delhi, Jul 6 (PTI) Finance Minister Arun Jaitley today said that J&K Chief Minister Mehbooba Mufti rooted for people welfare and ignored separatists' voice to adopt GST in the state assembly.

Jammu and Kashmir was the only state that had not approved a legislation to implement the Goods and Services Tax (GST) even after the new indirect tax regime was rolled out on July 1.

Jaitley said separatists ran a propaganda that GST should not be implemented in J&K otherwise there will be "financial integration of the state with India."

The state finance minister was part of all the negotiations at the GST Council that decided on the tax rate and rules for its implementation and the state even hosted a meeting of the GST Council that decided on tax rates for about 1,200 goods.

The Centre had to then emphasise to the state that its people will lose out as they will pay tax twice over instead of just one GST, making goods costlier to them, he said.

"I wrote to Mehbooba Mufti saying that goods will become costlier (if you don't implement GST). So, you have to choose the path of either going with the separatists or thinking about the welfare of the people of the state," Jaitley said, addressing an event organised by state BJP as thanksgiving for successfully implementing GST.

The J&K assembly yesterday adopted the resolution to implement the new tax regime in the state. However, Presidential assent will be required before GST is implemented in the state.

Jaitley pointed out how the price of a commodity would have varied in Pathankot and J&K, if the latter decided not to implement GST.

Citing his meetings with traders and businessmen based in Jammu, Jaitley said that they had voiced concern that they may be at a disadvantage if the same product is sold at a cheaper price in Pathankot in Punjab which is just an hour away from the state.

"And the same argument was given by the state government yesterday in the state assembly," he said.

The Finance Minister further said that in the last 70 years, this is the first time that the country had become economically integrated.

"...The J&K consumers also feel that they are integrated with India, and it is beneficial for us," he said.

Being a consuming state, J&K would also benefit from GST and the revenue of the state will increase, he added.

In his letter to Mehbooba last month, Jaitley had asked her to implement GST in the state as failing to do so would lead to "adverse impact" of price rise and put local industry at a disadvantage.


US dollar ends dearer against rupee
Sensex hits new peak at 35,664.01, Nifty at 10,926.45
I-T notices to cryptocurrency investors on suspicion of tax evasion
Trai gives approval for mobile calls, net surfing while flying
HSBC InvestDirect Securities settles case with Sebi
SBI to raise Rs 20,000 cr for affordable housing, infra
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
KERALA NEWS
Dileep has actress attack visuals with him, says prosecution
 (Angamaly, Jan 22, 2018, DG): The prosecution on Monday said that actor Dileep shouldn't be g  
Political attacks continue in Kannur
Class 10 student meets with tragic end at Thiruvalla
Sivankutty MLA writes to CM to drop case on Assembly violence
INTERNATIONAL NEWS
Pence kicks off Israel visit with Netanyahu meeting
 (Jerusalem, Jan 22, 2018): Vice President Mike Pence kicked off his visit to Israel today wit
Rohingya Muslim refugee return to Myanmar delayed
Kabul hotel attack toll at least 22: officials
Ecuador president calls Julian Assange a 'problem'
NATIONAL NEWS
30-year-old medical representative shot dead in Kanpur
 (Kanpur, Jan 22, 2018): A 30-year-old medical representative was shot dead by two unidentifie
SC tranfers pleas on Loya's death from HC to apex court
2008 Gujarat blasts mastermind held by Delhi police
Pak shells areas along LoC, IB in Jammu
Untitled Page
Rashtra Deepika LTD
Copyright @ 2017 , Rashtra Deepika Ltd.