news details |
|
|
| FM seeks GST execution for J&K’s handicraft products | | | Agencies
NEW DELHI, JUNE 10: A meeting of Empowered Committee of Finance Ministers of all the states of the country was held here which was chaired by West Bengal Finance Minister, Mr. Asim Das Gupta. Finance Minister of J&K State, Mr. Abdul Rahim Rather, also participated in the meeting.
Speaking on the occasion, Mr. Rather said the growth rate of trade taxes in J&K has fallen to 14 per cent due to unfavourable conditions in the State from June to August, 2008. He said the economic meltdown, particularly for the last two quarters of 2008-09, also contributed towards this fall.
Speaking about the introduction of new regime of GST, Mr. Rather said the Empowered Committee should seriously think about placement of certain commodities like handicrafts, food-grains and services provided by government and local bodies under the exempted category. He said the handicraft sector provides employment to a large number of poor artisans of the State, who need to be exempted from imposition of GST.
The Finance Minister appreciated the working of the Empowered Committee and outlined the broad contours of the body. He reminded that one of the major objectives of constituting this umbrella Committee of State Finance Ministers was to put an end to price war between various states of the union in the area of trade taxes.
Asking the Empowered Committee to seriously tackle deviations issue, the Finance Minister said all the deviating states need to be requested to reverse their decisions as their deviations have resulted in flight of business from consumer states like J&K. He mentioned that as many as 16 deviations were made by Delhi, 6 by Haryana, 7 by Punjab, 10 by Chandigarh (UT) and two by Himachal Pradesh, particularly regarding diesel, liquor, timber and wood-based products, which are adversely affecting the business of J&K and this issue needs to be addressed forthwith.
Mr. Gupta assured Mr. Rather that this issue is being taken care of in new regime of GST, likely to be put in place in the country from April 1, 2010. An inbuilt mechanism is being incorporated in the new statute to ensure that no state deviates from the mutually agreed upon rate of GST, he added.
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
| |
|
|
|
|
 |
|
|
