Lok Sabha passes two key bills for implementation of GST in J&K
The Lok Sabha has passed the Central Goods and Services Tax (Extension to Jammu and Kashmir) Bill, 2017 and the Integrated Goods and Services Tax (Extension to Jammu and Kashmir) Bill, 2017.
The two bills will replace the ordinances promulgated earlier in this regard to complete rolling out GST regime the Himalayan State.
The first bill provides for the extension of the Central Goods and Services Tax (CGST) Act, 2017 to J&K and the other also provides for the extension of the Integrated Goods and Services Tax (IGST) Act, 2017 to J&K.
Background
The Central government earlier had promulgated ordinances to make the Central GST and Integrated GST (IGST), which deals with inter-state commerce, applicable to all states. However, provisions of these Central laws were not applicable to J&K unlike the rest of India, as the state is having a special constitutional status. Under this different constitution procedure, President Pranab Mukherjee had promulgated two ordinances regarding the introduction of the GST in J&K.
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Month: Current Affairs - August, 2017