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14th GST Council Meet begins in Kashmir

Posted on Thursday, May 18th, 2017 by Online Editor

14th GST Council Meet begins in Kashmir

Srinagar, May 18 (Only Kashmir): The meeting of the 14th Goods and Service Tax (GST) Council began in Srinagar marking participation of Union Finance Minister, Arun Jaitley, Finance Ministers of all the states, Finance Secretaries and other taxation officials from the states and union territories. The meeting is being held under the chairmanship of Union Finance Minister Arun Jaitley.

As soon as the meeting started, Mr Jaitley informed the gathering about the sad demise of Union Environment Minister Anil Madhav Dave who passed away today at the age of 60 at his residence in the national capital.
The meeting observed two minutes silence in remembrance of Mr Dave.
Mr Jaitley complimented the JK Finance Minister Dr Haseeb A Drabu and the state government for making outstanding arrangements for the final leg of the GST Council before the law is rolled out on July 1 this year.
Dr Drabu said the historic meeting will make Jammu and Kashmir part of the economic history aimed at reordering the country’s federal polity, “We are now part of the national policy making which will be recorded in the history,” he said.
The Union Finance Minister assured the J&K Government that the Center will extend all possible help in restructuring the GST implementation for Jammu and Kashmir while respecting the special status of the state.
The meeting will last for two days, beginning today during which the delegates will decide the tax bands for various commodities under the country’s first, major indirect tax reform.

Earlier Arun Jaitley called on the Chief Minister, Mehbooba Mufti here today.
Mehbooba Mufti discussed with the union Finance Minister the process of fund flow to the State, particularly under the Prime Minister’s Developmental Plan (PMDP) and sought timely and periodic release of funds under the plan.
The Chief Minister apprised Mr. Jaitley of the huge losses suffered by local business units, particularly the ones started by young entrepreneurs, during the unrest of last year and sought restructuring of credit facility to them.

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