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J&K May Take a Hit for Staying out of GST
July 04, 2017
The GST regime was officially launched by the President Pranab Mukherjee and Prime Minister Narendra Modi at midnight yesterday. While the latter called it a cooperative federalism, he added that there is one state that decided to stay out of it and may have to face consequences in the near future.
Jammu and Kashmir, which decided to opt out of GST regime faces the risk of double taxation i.e. State GST and Integrated GST (new taxes) apart from VAT and sales tax (old taxes) for goods transported to and from the state.
