38th meeting of GST Council and All about GST Council
Posted on : 23 Dec 2019Views: 667
- The 38th meeting of the GST Council met under the Chairmanship of the Union Minister for Finance.
- The Goods and Services Tax (GST) Council departed from its practice of consensus-based decision-making, opting the first time for a vote to settle differences among states.
- Grievance Redressal Committees (GRC) will be constituted at Zonal/State level with both CGST and SGST officers and including representatives of trade and industry and other GST stakeholders (GST practitioners and GSTN etc.).
- These committees will address grievances of specific/ general nature of taxpayers at the Zonal/ State level.
- The council has decided to impose a single rate of 28% on state-run and authorised lottery.
About GST Council
- Goods & Services Tax Council is a constitutional body (Article 279A) for making recommendations to the Union and State Government on issues related to Goods and Service Tax.
- As per Article 279A of the amended Constitution, the GST Council which will be a joint forum of the Centre and the States, shall consist of the following members: -
- the Union Finance Minister---Chairperson;
- the Union Minister of State in charge of Revenue or Finance---Member;
- The Minister in charge of Finance or Taxation or any other Minister nominated by each State Government---Members.
- The Cabinet also decided to provide for adequate funds for meeting the recurring and non-recurring expenses of the GST Council Secretariat, the entire cost for which shall be borne by the Central Government.
- Every decision of the Goods and Services Tax Council shall be taken at a meeting, by a majority of not less than three-fourths of the weighted votes of the members present and voting, in accordance with the following principles, namely: —
- the vote of the Central Government shall have a weightage of one third of the total votes cast, and
- The votes of all the State Governments taken together shall have a weightage of two-thirds of the total votes cast, in that meeting.
Article Related Questions
Consider the following statements regarding GST Council
1.It is a statutory body.
2.Chairperson of this body is The Prime Minister.
3.Every decision of the Goods and Services Tax Council is taken by a majority of not less than three-fourths of the weighted votes of the members present and voting.
Which of the following statement is/are correct?
1.1 and 2 only
4.1, 2 and 3
Right Ans : 3 only