Arun Jaitley introduced two bills in Lok Sabha to extend GST to Jammu Kashmir

Vastavam web: Finance Minister Arun Jaitley today introduced in the Lok Sabha two bills that would extend the Goods and Services Tax (GST) regime to Jammu and Kashmir.The Central Goods and Services Tax (Extension to Jammu and Kashmir) Bill, 2017, would provide for levy of the GST on goods sold and services rendered in the state, while the Integrated Goods and Services Tax (Extension to Jammu and Kashmir) Bill, 2017 seeks to levy the tax on inter-state movement of goods.While the GST, which replaced more than a dozen central and state levies, came into effect from July 1 all over the country, the Jammu and Kashmir assembly passed a resolution adopting the constitutional amendment only on July 5.

The state of Jammu and Kashmir passed the Jammu and Kashmir Goods and Services Tax Act, 2017 which came into force on July 8, 2017, the statement of objects and reasons for the two legislations said.The Central-GST would be imposed on intra-state supplies in the state and the integrated tax on inter-sate supplies.As Parliament was not in session and an urgent legislation was required to be made, the president promulgated” 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 on July 8, said the statement of Objects and reasons of the two bills.