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Nobody will be at a disadvantage under GST regime: Drabu

Press Trust of India  |  Srinagar 

Allaying apprehensions of the opposition and business community, the J&K has said it would not compromise fiscal autonomy of the state and no one would be put at a disadvantage under the new regime.

"We have made changes in federal relations with the of Other states draw powers to from the Constitution of while we draw our powers from our own Constitution.



Those legislative powers have not been compromised, so there is no question of compromising fiscal autonomy," minister Haseeb Drabu said, addressing a meeting here.

Last month, the business community in Kashmir had said that it is not against the Goods and Services (GST) but threatened a 'never-before' kind of agitation if the new regime affected the special status of the state for rollout.

Opposition governor N N Vohra on June 9 and apprised him about the party's apprehensions on the extension of Constitutional Amendment 101 to the state to facilitate the extension of the GST, saying "such a plan will have wider and irreversibly adverse ramifications on the state's fiscal autonomy and will impinge upon the residuary powers enjoyed by the state.

"The opposition also sought deferment of the special session of the state legislature beginning June 17 and sought an all-party meeting to allay the fears and concerns of the "various parties and putting the entire concept in public domain so that there is an open debate with the stakeholders".

The minister said it is for the first time in the history of that a constitutional amendment was required to extend a Central law to the state which will be debated in the State Assembly.

"People of J&K must understand what is at stake, which is why we are holding a special assembly session," he said adding, the state has set precedent of discussing policy issues with stakeholders and in the assembly where people send their leaders to take decisions which impact their lives.

"Article 370 is safe and modalities are safe. You should recognize that we are setting a precedent. If anything, it is my understanding that the union is sharing sovereignty with the states, in the taxation space," he said.

The minister said "we can defer the implementation but it will impact the business of Kashmir more than the

In the absence of in J&K, no one would want to trade with us. And if they do trade, the consumer will be penalised through double taxation. Let me assure you that no one will be put at a disadvantage under the regime. In fact, J&K will be the first state to do refund for shoppers on handicrafts."

He added that is running successfully in 198 countries.

"Let me assure you that there can be no better system for traders than Besides, the system of exemptions will also continue in J&K. Modalities will be worked out in coming days as there is uncertainty all across and J&K is not unique to it over internet and other operational issues which will have to be resolved," Drabu said.

Drabu said that businesses of would be affected if is not extended to the State,

"It is a federal where J&K will be a participant. In absence of GST, there will be two taxes which will hike the costs and impact the consumers. Trade will be hampered and no one will be willing to do business in J&K," he said.

Drabu said the implementation of is being discussed since 2002 and the law has evolved over the years.

"Earlier, was supposed to be a single rate, single with no Council. Today, not one decision has been taken without the consultation of other states which is why I have repeatedly said that council is India's first truly federal institution," he said.

He also said that would ease businesses as inspection audits will fade away and assessments will be done by traders.

"States have huge powers today. Our has done nothing in the Constitutional Amendment which takes away the legislative powers of J&K," he said.

The meeting was also attended by Commissioner Secretary Finance, Navin K Chaudhary, Commissioner, Sales Tax, Kashmir, Pervaiz Khateeb, representatives of business chambers of regions, Kashmir Traders and Manufacturers Federation, Kashmir Traders and Manufacturers Association, Kashmir Restaurant Owners Federation, Hoteliers and other business leaders of the state.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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Nobody will be at a disadvantage under GST regime: Drabu

Allaying apprehensions of the opposition and business community, the J&K government has said it would not compromise fiscal autonomy of the state and no one would be put at a disadvantage under the new GST regime. "We have made changes in federal relations with the Government of India. Other states draw powers to tax from the Constitution of India while we draw our powers from our own Constitution. Those legislative powers have not been compromised, so there is no question of compromising fiscal autonomy," finance minister Haseeb Drabu said, addressing a meeting here. Last month, the business community in Kashmir had said that it is not against the Goods and Services Tax (GST) but threatened a 'never-before' kind of agitation if the new tax regime affected the special status of the state for GST rollout. Opposition National Conference met Jammu and Kashmir governor N N Vohra on June 9 and apprised him about the party's apprehensions on the extension of Constitutional Amendment ... Allaying apprehensions of the opposition and business community, the J&K has said it would not compromise fiscal autonomy of the state and no one would be put at a disadvantage under the new regime.

"We have made changes in federal relations with the of Other states draw powers to from the Constitution of while we draw our powers from our own Constitution.

Those legislative powers have not been compromised, so there is no question of compromising fiscal autonomy," minister Haseeb Drabu said, addressing a meeting here.

Last month, the business community in Kashmir had said that it is not against the Goods and Services (GST) but threatened a 'never-before' kind of agitation if the new regime affected the special status of the state for rollout.

Opposition governor N N Vohra on June 9 and apprised him about the party's apprehensions on the extension of Constitutional Amendment 101 to the state to facilitate the extension of the GST, saying "such a plan will have wider and irreversibly adverse ramifications on the state's fiscal autonomy and will impinge upon the residuary powers enjoyed by the state.

"The opposition also sought deferment of the special session of the state legislature beginning June 17 and sought an all-party meeting to allay the fears and concerns of the "various parties and putting the entire concept in public domain so that there is an open debate with the stakeholders".

The minister said it is for the first time in the history of that a constitutional amendment was required to extend a Central law to the state which will be debated in the State Assembly.

"People of J&K must understand what is at stake, which is why we are holding a special assembly session," he said adding, the state has set precedent of discussing policy issues with stakeholders and in the assembly where people send their leaders to take decisions which impact their lives.

"Article 370 is safe and modalities are safe. You should recognize that we are setting a precedent. If anything, it is my understanding that the union is sharing sovereignty with the states, in the taxation space," he said.

The minister said "we can defer the implementation but it will impact the business of Kashmir more than the

In the absence of in J&K, no one would want to trade with us. And if they do trade, the consumer will be penalised through double taxation. Let me assure you that no one will be put at a disadvantage under the regime. In fact, J&K will be the first state to do refund for shoppers on handicrafts."

He added that is running successfully in 198 countries.

"Let me assure you that there can be no better system for traders than Besides, the system of exemptions will also continue in J&K. Modalities will be worked out in coming days as there is uncertainty all across and J&K is not unique to it over internet and other operational issues which will have to be resolved," Drabu said.

Drabu said that businesses of would be affected if is not extended to the State,

"It is a federal where J&K will be a participant. In absence of GST, there will be two taxes which will hike the costs and impact the consumers. Trade will be hampered and no one will be willing to do business in J&K," he said.

Drabu said the implementation of is being discussed since 2002 and the law has evolved over the years.

"Earlier, was supposed to be a single rate, single with no Council. Today, not one decision has been taken without the consultation of other states which is why I have repeatedly said that council is India's first truly federal institution," he said.

He also said that would ease businesses as inspection audits will fade away and assessments will be done by traders.

"States have huge powers today. Our has done nothing in the Constitutional Amendment which takes away the legislative powers of J&K," he said.

The meeting was also attended by Commissioner Secretary Finance, Navin K Chaudhary, Commissioner, Sales Tax, Kashmir, Pervaiz Khateeb, representatives of business chambers of regions, Kashmir Traders and Manufacturers Federation, Kashmir Traders and Manufacturers Association, Kashmir Restaurant Owners Federation, Hoteliers and other business leaders of the state.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

image
Business Standard
177 22

Nobody will be at a disadvantage under GST regime: Drabu

Allaying apprehensions of the opposition and business community, the J&K has said it would not compromise fiscal autonomy of the state and no one would be put at a disadvantage under the new regime.

"We have made changes in federal relations with the of Other states draw powers to from the Constitution of while we draw our powers from our own Constitution.

Those legislative powers have not been compromised, so there is no question of compromising fiscal autonomy," minister Haseeb Drabu said, addressing a meeting here.

Last month, the business community in Kashmir had said that it is not against the Goods and Services (GST) but threatened a 'never-before' kind of agitation if the new regime affected the special status of the state for rollout.

Opposition governor N N Vohra on June 9 and apprised him about the party's apprehensions on the extension of Constitutional Amendment 101 to the state to facilitate the extension of the GST, saying "such a plan will have wider and irreversibly adverse ramifications on the state's fiscal autonomy and will impinge upon the residuary powers enjoyed by the state.

"The opposition also sought deferment of the special session of the state legislature beginning June 17 and sought an all-party meeting to allay the fears and concerns of the "various parties and putting the entire concept in public domain so that there is an open debate with the stakeholders".

The minister said it is for the first time in the history of that a constitutional amendment was required to extend a Central law to the state which will be debated in the State Assembly.

"People of J&K must understand what is at stake, which is why we are holding a special assembly session," he said adding, the state has set precedent of discussing policy issues with stakeholders and in the assembly where people send their leaders to take decisions which impact their lives.

"Article 370 is safe and modalities are safe. You should recognize that we are setting a precedent. If anything, it is my understanding that the union is sharing sovereignty with the states, in the taxation space," he said.

The minister said "we can defer the implementation but it will impact the business of Kashmir more than the

In the absence of in J&K, no one would want to trade with us. And if they do trade, the consumer will be penalised through double taxation. Let me assure you that no one will be put at a disadvantage under the regime. In fact, J&K will be the first state to do refund for shoppers on handicrafts."

He added that is running successfully in 198 countries.

"Let me assure you that there can be no better system for traders than Besides, the system of exemptions will also continue in J&K. Modalities will be worked out in coming days as there is uncertainty all across and J&K is not unique to it over internet and other operational issues which will have to be resolved," Drabu said.

Drabu said that businesses of would be affected if is not extended to the State,

"It is a federal where J&K will be a participant. In absence of GST, there will be two taxes which will hike the costs and impact the consumers. Trade will be hampered and no one will be willing to do business in J&K," he said.

Drabu said the implementation of is being discussed since 2002 and the law has evolved over the years.

"Earlier, was supposed to be a single rate, single with no Council. Today, not one decision has been taken without the consultation of other states which is why I have repeatedly said that council is India's first truly federal institution," he said.

He also said that would ease businesses as inspection audits will fade away and assessments will be done by traders.

"States have huge powers today. Our has done nothing in the Constitutional Amendment which takes away the legislative powers of J&K," he said.

The meeting was also attended by Commissioner Secretary Finance, Navin K Chaudhary, Commissioner, Sales Tax, Kashmir, Pervaiz Khateeb, representatives of business chambers of regions, Kashmir Traders and Manufacturers Federation, Kashmir Traders and Manufacturers Association, Kashmir Restaurant Owners Federation, Hoteliers and other business leaders of the state.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

image
Business Standard
177 22