India

J&K: 14th GST Council meet begins in Srinagar

GST Bill

New Delhi, May 17, 2017: The 14th Goods and Services Tax Council meeting headed by Union Finance Minister Arun Jaitley begins at Sher-i-Kashmir International Conference Centre in Srinagar on Thursday.

The two-day meeting will be attended by Finance Ministers, Finance Secretaries and other taxation officials from all states and union territories.

The official statement said that a meeting of the fitment committee and preparatory meeting of the officers was convened on Thursday.

“Finance Ministers of Tripura, Mizoram, Sikkim and Nagaland may not attend the GST council meet today because of preoccupations in their states,” official sources said here.

Nearly 200 journalists, both foreign and Indian, were present in the meeting.

The meeting which started at 10.30 a.m. will continue till 6.30 p.m.

The formal GST Council meeting will be held at the same venue while the decisions taken at the meeting will be spelled out by Jaitley at a press conference on Friday.

Goods and Services Tax (GST) is an upcoming implementation of taxation in the country which will merge many individually applied taxes into a single tax.

GST was introduced as The Constitution (One Hundred and First Amendment) Act 2016, following the passage of Constitution 122nd Amendment Bill.

Wefornews Bureau

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