Jammu And Kashmir State Finance Act Pdf
File Name: jammu and kashmir state finance act .zip
The present appeal is directed against Order-in-Original No. The brief facts of the case are that the appellants were having Centralized Service Tax Registration at Noida. They are dealing with supply of petroleum products. They were issued with a show cause notice dated Revenue entertained a view that the said services were received by the appellant in the state of Jammu and Kashmir and as per Reverse Charge Mechanism appellant should have paid service Tax amounting to Rs.
Composition levy. Section 10 1 of the CGST Act, provides that a class of registered person may opt to pay a fixed rate of tax on his aggregate turnover subject to conditions and restrictions as may be prescribed. This facility is referred as Composition Scheme or Composition Levy. Section 10 2 of the CGST Act, provides the conditions upon satisfaction of which a person will be eligible to opt for Composition Scheme. The additional conditions are as under:. Eligibility and conditions for taking input tax credit.
Kashmir, a mountainous valley that borders Pakistan and India, has been a center of conflict between the two nuclear-armed countries since the partition of British India. At the time of the partition, the British agreed to divide their former colony into two countries: Pakistan, with a Muslim majority, and India, with a Hindu majority. Both nations covet Kashmir, which is Muslim majority, and occupy portions of it with military forces. For decades, an uneasy stalemate has prevailed, broken by occasional military incursions, terrorist attacks and police crackdowns. But on Monday, the Indian government decided to permanently incorporate the territory it controls into the rest of India. The administration of Prime Minister Narendra Modi revoked Article of the Indian constitution, a year-old provision that had given autonomy to the state of Jammu and Kashmir, which includes the Hindu-majority area of Jammu and the Muslim-majority Kashmir valley. The government also introduced a bill to strip the region of statehood and divide it into two parts, both under direct control of the central government.
As a result, 37 central laws which were not applicable to the union territory will now be applicable. Jammu and Kashmir Reorganisation Act, came into force on October 31 last year and the erstwhile state was reorganised into Union territories of Jammu and Kashmir and Ladakh. All the central laws which are applicable to other parts of the country are now applicable to Jammu and Kashmir from October The release said it is necessary to adapt central laws made under the concurrent list, with required modifications and amendments, for ensuring administrative effectiveness and smooth transition with respect to Jammu and Kashmir to remove any ambiguity in their application. According to Section 96 of the Jammu and Kashmir Reorganisation Act, , the Central Government has requisite powers to make adaptations and modifications of the laws whether by way of repeal or amendment. Click here to read the Mint ePaper Mint is now on Telegram. Join Mint channel in your Telegram and stay updated with the latest business news.
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Kashmir, and the subsequent changes in the financial set up of the State, it was not thought advisable to This reprint of the Jammu and Kashmir Financial Code, Volwne I incorporates with the provisions of the Reserve Bank of India Act, Note. and expenditure of a financial year (refer to the Budget Manual). 1-8.
Finance Act (India)
Subject Younis, PID No. ARP EXK R Subhrmanyam and others-reg.
Home Record of Right Links Contacts. Disaster Management. Jammu and Kashmir Tenancy Act An Act to consolidate, amend and declare the law relating to the tenancy of land in the State.
The Act sets out a reform agenda for achieving medium and long term growth stability for the economy of the State through fiscal correction path. To carry out the reforms enshrined in theAct, the State Government took some decisions like introduction of new pension scheme, bringing more items under the ambit of VAT and a host of other institutional and sectoral reform measures as announced in the annual budgets subsequently. The measuresundertaken are intended to improving the quality of public expenditure and to promote fiscal stability.
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