Last month, the business community in Kashmir had said that it is not against the Goods and Services Tax (GST) but threatened a never-before kind of agitation if the new tax regime affected the special status of the state for GST rollout. Trade will be hampered and no one will be willing to do business in J&K," he said. Other states draw powers to tax from the Constitution of India while we draw our powers from our own Constitution. longer chainsaw bar Modalities will be worked out in coming days as there is uncertainty all across India and J&K is not unique to it over internet and other operational issues which will have to be resolved," Drabu said.Drabu said that businesses of Jammu and Kashmir would be affected if GST is not extended to the State, "It is a federal tax where J&K will be a participant.

The finance minister said "we can defer the GST implementation but it will impact the business of Kashmir more than the government. If anything, it is my understanding that the union is sharing sovereignty with the states, in the taxation space," he said."Let me assure you that there can be no better system for traders than GST.He also said that GST would ease businesses as inspection audits will fade away and assessments will be done by traders.Srinagar: Allaying apprehensions of the opposition and business community, the J&K government has said it would not compromise fiscal autonomy of the state and no one would be put at a disadvantage under the new GST regime."Article 370 is safe and modalities are safe. Inabsence of GST, there will be two taxes which will hike the غير مجاز مي باشدts and impact the consumers. Let me assure you that no one will be put at a disadvantage under the GST regime. In fact, J&K will be the first state to do GST refund for shoppers on handicrafts. "Earlier, GST was supposed to be a single rate, single tax with no GST Council."

The opposition also sought deferment of the special session of the state legislature beginning June 17 and sought an all-party meeting to allay the fears and concerns of the "various parties and putting the entire concept in public domain so that there is an open debate with the stakeholders".The meeting was also attended by Commissioner Secretary Finance, Navin K Chaudhary, Commissioner, Sales Tax, Kashmir, Pervaiz Khateeb, representatives of business chambers of Jammu and Kashmir regions, Kashmir Traders and Manufacturers Federation, Kashmir Traders and Manufacturers Association, Kashmir Restaurant Owners Federation, Hoteliers and otherbusiness leaders of the state. Those legislative powers have not been compromised, so there is no question of compromising fiscal autonomy," finance minister Haseeb Drabu said, addressing a meeting here. "States have huge powers today.. Besides, the system of exemptions will also continue in J&K. You should recognize that we are setting a precedent. And if they do trade, the consumer will be penalised through double taxation. In the absence of GST in J&K, no one would want to trade with us."People of J&K must understand what is at stake, which is why we are holding a special assembly session," he said adding, the state government has set precedent of discussing policy issues with stakeholders and in the assembly where people send their leaders to take decisions which impact their lives.The finance minister said it is for the first time in the history of Jammu and Kashmir that a constitutional amendment was required to extend a Central law to the state which will be debated in the State Assembly. Our government has done nothing in the Constitutional Amendment which takes away the legislative powers of J&K," he said."We have made changes in federal relations with the Government of India. Today, not one decision has been taken without the consultation of other states which is why I have repeatedly said that GST council is Indias first truly federal institution," he said.Drabu said the implementation of GST is being discussed since 2002 and the law has evolved over the years.

Opposition National Conference met Jammu and Kashmir governor N N Vohra on June 9 and apprised him about the partys apprehensions on the extension of Constitutional Amendment 101 to the state to facilitate the extension of the GST, saying "such a plan will have wider and irreversibly adverse ramifications on the states fiscal autonomy and will impinge upon the residuary powers enjoyed by the state."He added that GST is running successfully in 198 countries.

While presently Samsung, Apple and a few other smartphone manufacturers are already heading their products in the same direction, other manufacturers are yet to follow. The need for a mode for digital payments has forced people to open bank accounts, opt for smart cards and even get on to the internet with and take help from digital payment apps to ease out the payment modes. The company caters to three verticals of smart cards in the industry — banking, telecom and government ID. child, religious figure etc.SCIT, or Smart Card IT Solutions, is one of India’s largest manufacturer of smart cards in India that produces around 1.

However, with technology getting better by each passing month, smart cards will probably, still be the safest mode for payments, authentication, automation and more.Does the company have any tie-up with banks? What are the new types of solutions being demanded by the banks in India?SCIT is a supplier of smart cards to various banks.Deven Mehta, CMD SCIT Ltd said, "However, this could just be the beginning and going forward India will witness a massive surge in demand for smart cards across all verticals. Thanks to the move, most of the money being rolled around is now being accounted for and most importantly, it just got easier and smooth.What are the company’s existing products and services in the country?Our products and service includes smart cards – for Banking, Telecom, Government Indentity, Loyalty Identification and Instant Issuance Solutions for all segments.Your take on e-passports in IndiaICAO (International Civil Aviation Organisation) has put a mandate to all governing authorities of various countries by putting deadlines on migration from MRP (Machine Readable Passports) to issuances of e Passports which contain a microchip and an antenna which provides one of the highest forms of security for a document in world.With the demonetisation drive by the BJP-led government last year, India has seen a major jump in the digital payment sector.

The tie ups are actually with switch providers such as FIS, FSS, Euronet and Transerv who largely cater to 80 per cent of Indian banks. We will become an integral part to the KCC (Kissan Credit Card) by supplying more than 50 per cent of the cards as directed by our Prime Minister. Further, there will be eVisas which will be stored in the microchip.What are SCIT’s plans with the government of India? Please elaborateSCIT is constantly a supplier and consultant to various government programs such as RSBY, Bengal Health Cards, Driving License, Vehicle Registration Cards etc.t. With the recent spurt of demand banking cards in India, post demonetisation, the company has increased its production capacity and is expecting the rise to increase across the other two verticals too. With the rapid advancement in technology, Indian banks are always focused to incorporate new solutions which enable them to present the best offering to its consumers. To be ready for such demand scenarios we are undertaking quite a few initiatives. When in talks with Deven Mehta about the existing scenario, future plans for the country and what’s in line for the year 2017, he had much to reveal.Trends in the banking sectorRupay is going to be the biggest trendmaker in the banking segment. We are already pitching to manufacture the 60+ (Senior Citizens) Aadhaar based smart cards.2 million smart cards each day.The new solutions demanded by banks are instant issuance solutions, image card – where a customer has the choice of putting his/her favourite picture (for eg. Rural Banking segment will grow at the fastest pace. Currently more than 165 million Indians are not banked.""SCIT aims to become the largest manufacturer of cards in Asia and in sync with this long term vision the company is determined to build a Super Factory – the best that the world has ever seen with all services, manufacturing facility showcasing area, hotel for customers, solutions department etc.) after a thorough screening process, on the card itself and dual Interface (Contactless and Contact) technology based cards. We also want to get into the Financial Instant Issuance of cards whereby debit cards are issued almost instantly and thereby reduce the time required for right from applying for a card to its issuance, drastically," he added. However, while most people in India still hardnose guide bar rely on cash, going digital for payments is not as easy as one thinks.India has a very robust and dynamic banking system.Smart cards are here to stay, at least for a while until all future smartphones will be equipped with NFC, MST technologies for payments, automation and alike. NPCI has taken many initiatives for cashless, cardless, card and software solutions for the mass markets.As India, gears up for e-passports which are nowadays a global requirement, SCIT also seeks to get into the business through manufacture of e-passport inlays. This will enable Indian passport holders to walk to through e-gates and will store information of an individual’s biometrics such as finger prints and iris ensuring that the document is not replicated or misused.