J&K Government Makes GST-Linked Bank Accounts Mandatory for Contractor Payments

The J&K (Jammu & Kashmir) government has made GST-linked bank accounts mandatory for contractor payments. This significant reform aims to enhance transparency and curb tax evasion in government contracts. By linking contractor payments directly to GST-registered bank accounts, the government can ensure that payments are made only to legitimate, tax-compliant entities. This measure will improve accountability, streamline the payment process, and help in tracking financial flows, ultimately strengthening the Goods and Services Tax collection mechanism and promoting fair business practices in public procurement.