GST will be implemented in J&K very soon

Bengaluru: Union Minister for Power Piyush Goyal today said that GST will be introduced in Jammu and Kashmir shortly. "Jammu and Kashmir is the only state, which failed to meet the June 30 deadline for GST rollout. The new indirect tax regime will be implemented there in the next few days," Mr Goyal said here, on the sidelines of a function here.

J&K Minister for Finance Haseeb Drabu had said in New Delhi yesterday that the state is likely to clear the legislation on the indirect tax regime by July 6. Replying to a question about traders protesting in Srinagar against GST, Mr Goyal said that protests, sometimes, are politically-motivated, but it is good for the country, otherwise people of Jammu and Kashmir will suffer.

The traders in Srinagar had staged protest, alleging that implementation of GST would lead to erosion of the special status and the fiscal autonomy of Jammu and Kashmir. Referring to Niti Aayog Member Bibek Debroy's remarks that the talk of GST boosting GDP growth by one per cent to 1.5 per cent is rubbish, Mr Goyal said the Centre is confident of the new indirect tax regime, which will have a very positive and good impact on the Indian economy, because it had looked at the implementation experience of some foreign nations and claims of various schools of thought. Mr Goyal said that Mr Debroy may have his opinion, but that doesn't mean that the whole country should have the same opinion. "Each one is entitled to his opinion.

We are not having a government, where you can't speak." Mr Debroy had said any suggestion that GST will boost GDP growth by 1 to 1.5 per cent is "utter rubbish" and termed it as an "imperfect GST", following changes from the originally proposed "ideal" structure. Mr Goyal said more important than anything else is that India will get rid of corruption and move from informal economy to a formal economy.

He said that tax compliance will bring in more money to the government coffers, which will be used to render services to the poor and farmers of the country. "This is the goal of the Union government, on which we are focusing. I think that is also the goal of the whole country because all parties have come together and made GST a reality, and I am sure all parties and all states will make it a grand success." (UNI)