Jammu and Kashmir is the only state which has not yet implemented the new tax regime which came into force in the country from July 1. It is likely to clear the legislation by July 6. State Finance Minister, Haseeb Drabu attended the midnight launch of GST in Central Hall of Parliament said that in view of differences among the political parties, the state government had set up an all-party consultative group to find a common opinion from one and all. After the second meeting of the consultative group yesterday, the government declared that the parties were in agreement on the extension of the new tax regime.
Finance Minister Arun Jaitley had written a letter on Monday to Chief Minister Mehbooba Mufti saying that the failure of the state to implement GST will lead to unfavorable effect on price rise and put a local industry at loss.