"The government is committed to preserve the special position of the state and the same will be taken care of when GST is implemented all over India," Akhtar, who is also a spokesman of the government, said in a statement last night.
"Nothing will be allowed which will compromise the special constitutional position of the state," he said.
Akhtar said in the case of Food Security Act or Panchayati Act, the state Legislature brought in its own act.
He said a similar approach will be adopted in case of GST.
"The government will uphold all the principles of democracy while deciding on the issue of the imposition of GST in the state," he said.
The minister said with the imposition of GST, products will become cheaper as it will do away with the archaic practice of double taxation because of its cascading effect.
He said for a consumer state like Jammu and Kashmir, people will be benefited by the implementation of GST.
"If there is any loss of revenue to the state, the Union government will reimburse the same," he said.
Akhtar said GST has become a norm in the entire world as it greatly benefits the economy.
He said the state cannot remain isolated from the new tax order but at the same time all the interests of the state will be safeguarded.
The minister called upon the people not to lend ears to unfounded arguments from certain quarters who have always been against the interests of the state and have done enormous damage to it in the past too.
He said that no erosion of special status guaranteed in the Indian Constitution will be allowed.