GST Council:
- The Constitution (122 Amendment) Bill, 2016, for introduction of GST in the country was accorded assent by the President after it was ratified by 18 states.
- After the assent to bill it became law and was notified as the Constitution (101 Amendment) Act, 2016.
- The Constitution (101 Amendment) Act, 2016 adds Article 279A in the Constitution.
- As per Article 279A (1) of the amended Constitution, GST Council has to be constituted by the President within 60 days of the commencement of Article 279A
Composition of GST Council
As per Article 279A of the amended Constitution, GST Council which will be a joint forum of the Centre and the States. It shall consist of the following :
- Union Finance Minister (Chairperson)
- The Union Minister of State (MoS) in-charge of Revenue of finance (Member)
- The Minister In-charge of taxation or finance or any other Minister nominated by each State Government (Members)
Functions of GST Council
As per Article 279A (4), the Council will make recommendations to the Union and the States on important issues related to GST, like
- Taxes, cesses, and surcharges to be subsumed under the GST;
- Goods and services which may be subject to, or exempt from GST;
- The threshold limit of turnover for application of GST;
- Rates of GST;
- Model GST laws, principles of levy, apportionment of IGST and principles related to place of supply;
- Special provisions with respect to the eight north eastern states, Himachal Pradesh, Jammu and Kashmir, and Uttarakhand; and
- Other related matters.
- GST rates will including the floor rates with bands, special rates for raising additional resources during natural disasters/ calamities, special provisions for certain States, etc.
IS IT now A CONSTITUTIONAL BODY LIKE EC/nCSC/nCST/FC/UPS/SPSC etc.
pz ans
Yes.
thanx sir:)