With J-K assembly adopting the SGST bill, Finance Minister Arun Jaitley on Wednesday said it will benefit the consumers by making goods cheaper and increase revenue for the state. In a series of tweets, the minister congratulated the people of Jammu and Kashmir for passage of the bill by the state assembly. Jammu and Kashmir is the last state to pass the SGST bill. The Goods and Services Tax has already came into effect from July 1. “Congratulations to the people of J-K for integration of the state with the GST. J-K is a consuming state and GST will help it to increase revenue for the state,” Jaitley said.
The consumers in Jammu and Kashmir will benefit from GST. “No tax payment twice over,” he said.
Earlier in the day, Jammu and Kashmir assembly adopted a resolution to implement the GST in the state amid protests by the NC and the Congress.
Last month, Jaitley had written to Jammu and Kashmir Chief Minister Mehbooba Mufti to implement GST as failing to do so would lead to “adverse impact” of price rise and put local industry at a disadvantage.