UPSC : Goods and Services Tax Council
Goods and Services Tax Council
- The 101st Amendment Act of 2016 introduced the goods and services tax – [GST] in India and inserted a new Article 279-A to the Constitution.
- It established a Goods and Services Tax Council or the GST Council.
- The President has given the power to constitute a GST Council.
- The Secretariat of the Council is located at New Delhi.
- The Union Revenue Secretary is the ex-officio Secretary to the Council.
- It is the constitutional federal body vested with powers to take all major decisions relating to GST.
- The Council is a joint forum of the center and the states.
- The Union Finance Minister - the Chairperson.
- The Union Minister of State (Revenue or Finance).
- The Minister in-charge of Finance or Taxation (state government).
- The Vice-Chairperson of the Council is elected among members.
- The Chairperson of the Central Board of Excise and Customs (CBEC) - a permanent invitee (non-voting member)
- The vote of the central government - one-third of the total votes.
- The votes of all the state governments - two-thirds of the total votes.
- The Council has to recommend the compensation to the states for loss of revenue arising on account of introduction of GST for a period of five years.