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Title : THE GST COUNCIL
Date : Dec 02, 2021
Topic à Indian Economy
- Article 279A establishes it as a constitutional body.
- It was established by the Constitution (One Hundred and First Amendment) Act, 2016, and gives recommendations to the Union and State Governments on problems relating to the Goods and Service Tax.
- The GST Council is chaired by the Union Finance Minister, while other members include Union State Ministers of Revenue or Finance, as well as State Ministers in Charge of Finance or Taxation.
- It is a federal body in which both the central government and the states have equal representation.
- Functions of the GST Council:
- Every decision of the Goods and Services Tax Council must be made at a meeting by a majority of not less than three-quarters of the weighted votes of the members present and voting, in accordance with the following principles:
- 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.
- The GST Council was also praised in the Economic Survey 2017-18 for its cooperative federalism approach, which brings the Centre and States together and may be applied to a variety of policy initiatives.
- Source à The Hindu à 02/12/21 à Page Number 1
Tags : goods and services tax, indian economy