The Jammu and Kashmir assembly may have passed a resolution on implementing GST while safeguarding its special status but it has no validity till it is endorsed through a presidential decree.
Jammu and Kashmir missed the deadline of July 1 to implement the tax regime as consensus could not be built between the ruling and the Opposition political parts over the form in which 101st Amendment Act of the Indian Constitution would be extended to the state.
The opposition parties including National Conference (NC) resisted the implementation of one nation, one tax slogan in the state expressing concerns that the new tax system will erode the fiscal autonomy of the state and its implementation conflicts the special status, J&K enjoys. "After we receive the presidential order, we will take it to the assembly for enacting an SGST (state goods and services tax) bill", Finance Minister Haseeb Drabu said today. This will now be forwarded to the Governor for an order to be obtained from the President on implementing the new tax regime. He said they are willing to accept the tax regime if special amendments are made to safeguard the "fiscal autonomy" of the state, which is now taxed through its own legislation.
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"Under no circumstance will section 5 of J&K, which gives special power to the state to taxation, be tampered with".
"We are proposing that the Article 370 shall not be compromised in any way through the Presidential Order", he said, adding GST Council will not be a way to subvert the process and enough safeguards will be built to empowering the representatives of J&K.
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