Saturday, 18 November, 2017

Indians should pay taxes to become developed nation: Arun Jaitley

Arun Jaitley India Tv Arun Jaitley
Tracy Craig | 02 July, 2017, 01:33

Dr Drabu said GST would be an integrated tax regime which would replace 16 taxes now being levied by the Centre and the State Government.

"This is the top 1 per cent economic strata of the society, which says they don't know how to operate computer and hence I do not want to pay tax", Jaitley said, adding that this was happening in a country which was famous for its information technology worldwide. But this will change with the implementation of GST as it comes with "more checks and balances". "Hopefully, there will be consensus on the issue and the GST will soon make its way into Jammu and Kashmir too", said an official spokesman.

The strike call was given by the Kashmir Traders and Manufacturers Federation (KTMF), alleging that implementation of GST will erode the financial and political autonomy of the state. The final event is likely to start at 11 pm on June 30 and will be on till half past midnight.

Earlier, Union Finance Minister Arun Jaitley had asked Jammu and Kashmir to roll out GST from July 1 as failure to implement it will lead to "adverse impact" of price rise and put local industry at a disadvantage.

"The character of GST is not inflationary but there is a possibility that tax collection could increase", he said.

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A statement issued after a meeting of the JKPCC executive panel under the chairmanship of party unit chief G A Mir said, "It is the duty of the government to take steps to ensure the timely implementation of the GST, if they are honest".

The ramification could be more pronounced as traders will not be able to avail input tax credit for supplies of taxable goods and services from other states to J&K. The taxes to be integrated under GST include Central Excise Duty, Duties of Excise, Additional Duties of Excise, Additional Duties of Customs, Special Additional Duties of Customs, Service Tax, State VAT, Central Sales Tax, Luxury Tax, Entry Tax in lieu Octroi, Entertainment Tax, Taxes of Advertisement, Purchase Tax, Taxes on Lotteries, Betting and Gambling and State Cess.

"If we talk of bringing a separate law, the Centre will have to amend two chapters in the constitution to delegate powers of taxation to Jammu and Kashmir".

Taking a step towards a democratic opposition of the GST, the local traders have made a decision to keep their business shut for a day in Agra. It will become a huge political issue across the country. "The law must be introduced in an applicable form in the state", he said.

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