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| Services in J&K will be taxed under GST | | |
New Delhi, Nov 14: All services in Jammu and Kashmir, which are currently exempt from service tax, would be taxed once goods and services tax (GST) becomes operational in the country, a senior government official said.
Services in Jammu and Kashmir would also be taxed when GST is rolled out across the country, Central Excise Commissioner Sushil Solanki said at an interactive session with business leaders here yesterday.
At present only a few services, including insurance and financial, are levied sales tax(ST) or value added tax(VAT) in the border state, he said, adding once GST is executed the state would stop levying ST or VAT on these services.
Solanki said the Centre is contemplating a relaxed GST regime for micro, small and medium enterprises (MSMEs) and details are being worked out by Finance Ministry. He said all export refunds would be made time-bound in the new year.
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