Terming the implementation of Goods and Services Tax (GST) in the State as a historic step, Speaker, Jammu and Kashmir Legislative Assembly, Kavinder Gupta today said that this would definitely benefit the consumers as well as the trading community of the state.
He further said the trading community will not have to go through complex tax structure as they have got a unified tax regime in the form of GST comprising of previous 17 indirect taxes which were collected by different agencies under the old structure.
Ha said that the Assembly which was in session from July 4 to July 7, 2017 took the decisions on GST based on the aspirations of people of the state in general and trading community in particular. During the course of special session of J&K Legislature, the Goods and Services Tax Bill was passed on receiving Presidential order safeguarding special constitutional status of the state, he added.
He extended heartiest greetings to the people of the state and trading community for becoming a part of biggest tax reforms in the country.