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GST Council
Consider the following statements:
- GST Council is a constitutional body under Article 279A.
- It was introduced by the Constitution (One Hundred and First Amendment) Act, 2016.
- The GST Council is chaired by the Union Finance Minister and other members include the Union State Minister of Revenue or Finance and Ministers in-charge of Finance or Taxation of all the States.
Choose the correct answer from the codes given below:
A |
Only 1
|
|
B |
2 and 3
|
|
C |
1 and 3
|
|
D |
1, 2 and 3
|
Your Ans is
Right ans is D
Your Answer Is Correct
Your Answer Is Wrong
Explanation :
- GST Council is an apex member committee to modify, reconcile or to procure any law or regulation based on the context of goods and services tax in India.
- It is a constitutional body under Article 279A.
- It was introduced by the Constitution (One Hundred and First Amendment) Act, 2016.
Structure
According to the article, GST Council will be a joint forum for the Centre and the States. It consists of the following members:
- The Union Finance Minister will be the Chairperson
- As a member, the Union Minister of State will be in charge of Revenue of Finance
- The Minister in charge of finance or taxation or any other Minister nominated by each State government, as members.
Functions
- The GST Council dictates tax rate, tax exemption, the due date of forms, tax laws, and tax deadlines, keeping in mind special rates and provisions for some states.
- The predominant responsibility of the GST Council is to ensure to have one uniform tax rate for goods and services across the nation.
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