LS passes 2 bills extending CGST, IGST to Jammu & Kashmir
He asserted that special status of Jammu and Kashmir was “never meant to create economic impediment” as he maintained that the GST is in the larger interest of traders and consumers of Jammu and Kashmir
The Central Goods and Services Tax (Extension to Jammu and Kashmir) Bill and the Integrated Goods and Services Tax (Extension to Jammu and Kashmir) Bill passed by the House by a voice vote are aimed at giving effect to the formal amendments required in Central GST (CGST) and Integrated GST (IGST) Acts by removing the exemption that was carved out for J&K.
Replying to a debate on the bills, Jaitley said it was a positive step that Jammu and Kashmir has been integrated with GST and the dream of one tax regime is now met.
He hit out at the Congress for its reported claim that GST would infringe upon the special status of J&K.
The finance minister said a national party such as the Congress should not have got itself entangled by taking such a stand which is the “argument of the separatists”.
“If they (J&K) didn’t integrate, then the traders would not have got input credit and the tax on final products would have been higher… That would have made products costlier and consumers would have to pay more,” the minister said.