Srinagar, June 19 (KNN) With the traders, Oppositions, industry associations opposing GST implementation in the state, an All Party Committee on GST has been formed in Jammu & Kashmir to deliberate on extension of central Goods and Services Tax (GST) with modification so that it does not erode special status and fiscal autonomy of the state.

Jammu and Kashmir law minister and senior PDP leader, Abdul Haq Khan, informed that the panel was constituted to give recommendations and advice the government over GST.

The committee headed by the PDP founder member and parliamentarian Muzaffar Hussain Baig also includes senior leaders including former chairman of empowered committee on GST from National Conference Abdul Rahim Rather, CPI(M) leader Muhammad Yusuf Tarigami and others.

The state finance minister Dr Haseeb Drabu, who has repeatedly reiterated that the new tax regime won’t compromise the special status of the state, is also a part of the panel along with Khan. The panel would also include few economic and legal experts.

As the GST bill was not passed in Assembly, the National Conference on Thursday had cautioned against hasty implementation of the new tax regime in the State while traders called for shutdown on Saturday against implementation of GST.

NC warned PDP-BJP government from undertaking any decision that would cause harm to State’s fiscal and political autonomy.

The traders’ bodies in Kashmir have also been opposing implementation of GST in the State.

The Kashmir Traders and Manufacturers Federation (KTMF), which had called for Kashmir bandh on Saturday (June 17) against proposed implementation of GST in the state, had said, “We won’t allow the government to implement GST in the state at any cost as J&K is a disputed territory and enjoys its own constitution and powers.”

Kashmir Chamber of Commerce & Industry (KCCI) Secretary General Faiz Bakshi said the extension of GST to J&K amounts to direct infringement with the special status of the state. He said GST would deprive the state of its financial autonomy.

The constitution of panel has raised doubts whether the J&K will meet the July 1 deadline, when the new tax regime would be implemented across the country, or not.