Context:
Coast Guard inducted Advanced Light Helicopters (ALH) Mk III.
Details:
Context:
The 44th Goods and Services Tax Council meeting was held.
Highlights of the meeting:
Goods & Services Tax Council (GST Council) is a constitutional body for making recommendations to the Union and State Government on issues related to Goods and Service Tax.
The 101st Amendment Act of 2016 paved the way for the introduction of a new tax regime (i.e. goods and services tax – GST) in the country. The smooth and efficient administration of this tax requires cooperation and coordination between the centre and the states.
In order to facilitate this consultation process, the amendment provided for the establishment of a GST Council.
The amendment inserted a new Article 279-A in the Constitution of India. This article empowered the President to constitute a GST Council by an order.
Accordingly, the President issued the order in 2016 and constituted the Council. The Secretariat of the Council is located in New Delhi. The Union Revenue Secretary acts as the ex-officio Secretary to the Council.
To know more about the important amendments of the Indian Constitution, visit the linked article.
While discharging its functions, the Council is to be guided by the need for a harmonised structure of GST and the development of a harmonised national market for goods and services.
Further, the Council has to determine the procedure in the performance of its functions.
The vision and mission of the Council are as follows:
Vision: To establish the highest standards of the cooperative federation in the functioning of the Council, which is the first constitutional federal body vested with powers to take all major decisions relating to GST.
Mission: Evolving by a process of wider consultation, a GST structure, which is information technology driven and user friendly.
The Council is a joint forum of the centre and the states and consists of the following members:
The members of the Council from the states have to choose one amongst themselves to be the Vice-Chairperson of the Council. They can also decide his term.
The Union Cabinet also decided to include the Chairperson of the Central Board of Excise and Customs (CBEC) as a permanent invitee (non-voting) to all proceedings of the Council.
The decisions of the Council are taken at its meetings. One-half of the total numbers of members of the Council is the quorum for conducting a meeting. Every decision of the Council is to be taken by a majority of not less than three-fourths of the weighted votes of the members present and voting at the meeting.
The decision is taken in accordance with the following principles:
(i) The vote of the central government shall have a weightage of one-third of the total votes cast in the meeting.
(ii) The votes of all the state governments combined shall have a weightage of two-thirds of the total votes cast in that meeting.
Any act or proceeding of the Council will not become invalid on the following grounds.
(i) Any vacancy or deficit in the constitution of the Council
(ii) Any defect in the appointment of a person as a member of the Council
(iii) Any procedural irregularity of the Council not affecting the merits of the case.
The Council is required to make recommendations to the centre and the states on the following matters:
In addition, the council shall also recommend the date on which the GST may be levied on petroleum crude, high-speed diesel, petrol, natural gas and aviation turbine fuel.
The Council also has to recommend the compensation to the states for the loss of revenue arising on account of the introduction of GST for a period of five years. Based on the recommendation, the Parliament determines the compensation.
What’s in the News?
A new technology developed by a professor at the Chemical Engineering Department in Jadavpur University, Kolkata can reduce costs for low and medium scale enterprises.
Background:
New Technology:
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