Lok Sabha passes Bill to extend GST to J&K

New Delhi, August 2 : Lok Sabha on Wednesday passed a Bill to extend the Goods and Services Tax (GST) to the state of Jammu and Kashmir with Finance Minister Arun Jaitley separately assuring that there was scope of clubbing of tax rates in the future. Jaitley while defending the GST said there cannot be uniform tax rate on all items as it would ironically tax the ‘hawai chappal’ and a BMW car at same rates. The staggered tax slabs cushion the poor and people from lower economic strata against higher taxes imposed on items used by rich. GST has lowered taxes from standard 36 per cent to either 28 per cent to 18 per cent, he said. The GST should be allowed to settle down, said Jaitley while adding the manufacturers should pass on reduction in tax to consumers.