With reference to the Goods and Services Tax (GST)Council, consider the following statements:1. It is a constitutional body responsible for making recommendations on issues related to the implementation of the Goods and Services Tax (GST) in India.2. One-tenth of the total number of members of the GST Council shall constitute the quorum at its meeting.3. Each decision of the council must be supported by a majority of not less than one-half of the weighted votes of the members present and voting.How many of the above statements are correct?a)Only oneb)Only twoc)All threed)NoneCorrect answer is option 'A'. Can you explain this answer?

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With reference to the Goods and Services Tax (GST) Council, consider the following statements:

1. It is a constitutional body responsible for making recommendations on issues related to the implementation of the Goods and Services Tax (GST) in India.

2. One-tenth of the total number of members of the GST Council shall constitute the quorum at its meeting.

3. Each decision of the council must be supported by a majority of not less than one-half of the weighted votes of the members present and voting.

How many of the above statements are correct?

a)
Only one
b)
Only two
c)
All three
d)
None

Correct answer is option 'A'. Can you explain this answer?

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With reference to the Goods and Services Tax (GST)Council, consider th...

The GST Council recently announced various recommendations relating to taxation, ITC claims and demand notices.

About GST Council:

It is a constitutional body responsible for making recommendationson issues related to the implementation of the Goods and Services Tax (GST) in India.
Article 279A of the Indian Constitution gives power to the President of India to constitute a joint forum of the Centre and States called the GST Council, consisting of:
Union Finance Minister as Chairperson
Union Minister of State, in-charge of Revenue of finance
Minister in-charge of finance or taxation, or any other Minister nominated by each State Government
It is an apex committee to modify, reconcile, or make recommendations to the Union and the States on important issues related to GST, like the goods and services that may be subjected to or exempted from GST, model GST Laws, principles that govern Place of Supply, threshold limits, GST rates including the floor rates with bands, special rates for raising additional resources during natural calamities/disasters, special provisions for certain States, etc.
Decisions in the GST Council are taken during its meetings.
One half of the total number of members of the GST Council shall constitute the quorum at its meeting.
Each decision of the council must be supported by a majority of not less than three-fourth of weighted votes of the members present and voting.
The vote of the Central Government shall have a weightage of 1/3rd of the votes cast, and the votes of all the State Governments taken together shall have a weightage of 2/3rd of the total votes cast in that meeting.
Secretariat:
The Secretariat manages the GST Council.
It is manned by officers taken on deputation from both the Central and State Governments.
The entire cost of managing the Secretariat is borne by the Central Government.
The Ex-officio Secretary to the GST Council is the Revenue Secretary of India.
The office of the council is located in New Delhi.

Hence option a is the correct answer.

Answered by Notes Wala · View profile

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With reference to the Goods and Services Tax (GST)Council, consider the following statements:1. It is a constitutional body responsible for making recommendations on issues related to the implementation of the Goods and Services Tax (GST) in India.2. One-tenth of the total number of members of the GST Council shall constitute the quorum at its meeting.3. Each decision of the council must be supported by a majority of not less than one-half of the weighted votes of the members present and voting.How many of the above statements are correct?a)Only oneb)Only twoc)All threed)NoneCorrect answer is option 'A'. Can you explain this answer?

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