what is gst council

Thus GST is a unifier that is going to integrate various taxes being levied by the Centre and the State at present and provide a platform for forging an economic union of the country. It is tasked with the duties to make important decisions and changes in GST. Stormy GST Council meet today – Here’s what to expect In the current fiscal, the states are staring at a staggering Rs 2.35 lakh crore Goods and Services Tax (GST) revenue shortfall. The GST Council is chaired by the Union Finance Minister. The process for creating GST Council started in India when the Constitution (One Hundred and Twenty-second Amendment) Bill 2016, for the introduction of Goods and Services Tax (GST) was accorded assent by the President on 8th September 2016. The Goods and Services Tax Council shall recommend the date on which the goods and services tax be levied on petroleum crude, high speed diesel, motor spirit (commonly known as petrol), natural gas and aviation turbine fuel. Four posts of Commissioner in the GST Secretariat (at the level of Joint Secretary to the Government of India). GST Council is the governing body of GST having 33 members, out of which 2 members are of centre and 31 members are from 28 state and 3 Union territories with legislation. The GST Council Secretariat shall be manned by officers taken on deputation from both the Central and State Governments. The Minister in charge of Finance or Taxation or any other Minister, nominated by each State Government. 2. The Chairperson, Central Board of Excise and Custom (CBEC), as a permanent invitee (non-voting) to all proceedings of the Council. The provisions of Article 279A of the Constitution of India with respect to constitution of GST Council and its mandate are as below: © Content Owned by Ministry of Finance, Government of India. News This could include anything that falls under the regime. 2. September, 2016 vide Notification dated 10.09.2016. Goods & Services Tax Council is a constitutional body for making recommendations to the Union and State Government on issues related to Goods and Service Tax. It ensures that the taxpayers and other authorities are complying with the Act and performs every function that is necessary in respect of the Act. The council contains the following members (a) Union Finance Minister (as chairperson) (b) Union Minister of States in charge of revenue or finance (as member) (c) the ministers of states in charge of finance or taxation or other ministers as nominated by each states government (as member). The main role of the GST Council is to make recommendations to the central and state governments about how the GST law should be enforced and changed. The GST Council is a joint forum of the Central Government as well as the State Governments. Proposals and decisions related to GST changes are discussed in the GST Council Meeting, 34 of which have already been held. The meeting chaired the finance minister Nirmala sitharaman and the Minister of State (MoS) for Finance Anurag Thakur along with finance minister of all the states. The Goods and Services Tax Council shall establish a mechanism to adjudicate any dispute —, between the Government of India and one or more States; or, between the Government of India and any State or States on one side and one or more other States on the other side; or. 4. The main purpose behind this 36th GST Council Meeting is to decide GST rate cut on EV (Electronic Vehicles). The Council is chaired by the Union Finance Minister and is tasked with revisions, regulations and rates that may apply to the GST law. Role of the GST Council The GST Council will make recommendations to the center and … As per Article 279A (1) of the amended Constitution, the president should approve to constitute within 60 days of the commencement of Article 279A. 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