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of <h1>Jammu & Kashmir Clarifies GST Exemption: Entities Must Have 50%+ Government Ownership Per SRO-465 Notification.</h1> The Government of Jammu and Kashmir, through Notification SRO-465 dated October 11, 2018, has issued an explanation to clarify the scope and applicability of Notification SRO-GST-12 from July 8, 2017, under the Jammu and Kashmir Goods and Services Tax Act, 2017. The clarification specifies that for the purpose of a particular exemption, an entity must have 50% or more ownership by the Central Government, State Government, or Union Territory, either directly or through a wholly owned entity. This notification is effective from September 20, 2018.
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