Every decision of the Goods and Services Tax Council shall be taken at a meeting, by a majority of not less than three-fourths of the weighted votes of the members present and voting, in accordance with the following principles, namely: —, the vote of the Central Government shall have a weightage of one third of the total votes cast, and. The 42nd GST Council meeting finally took place in New Delhi on 5th October 2020. Here are the key takeaways from the 37th GST Council Meeting held in Panaji on September 20, 2019. GST shall include taxes, cesses, and surcharges; Goods and services which possibly will be subject to, or exempt from GST; GST laws, principles of levy, apportionment of IGST and principles associated with place of supply; Special provisions with respect to the eight northeastern states, Himachal Pradesh, Jammu and Kashmir, and Uttarakhand; and other associated matters. Our aim is to educate the entrepreneur on the legal and regulatory requirements and be a partner throughout the entire business life cycle, offering support to the company at every stage to make sure they are compliant and continually growing. The main role of the GST Council is to make recommendations to the central and state governments about how the GST law should be enforced and changed. While we know the GST bill is and what it entails, it is surprising to see that the role of the GST Council is still a mystery to most. The next GST council meeting likely to take place by mid-March. “Industry has demanded early constitution of GST Tribunals, for timely resolution on determining the tax liability and on claims of wrong utilisation of credit,” sources … GST Council is a federal forum with both centre and states in India on board. It was formed under Article 279A of the Indian Constitution. The Constitution (One Hundred and Twenty-Second Amendment) Bill, 2016, for introduction of Goods and Services tax in the country was introduced in the Parliament and passed by Rajya Sabha on 3rd August, 2016 and by Lok Sabha on 8th August, 2016. Stormy GST Council meet today – Here’s what to expect In the current fiscal, the states are staring at a staggering Rs 2.35 lakh crore Goods and Services Tax (GST) revenue shortfall. On subsuming of various taxes, cess, and surcharge in GST. Goods & Services Tax Council is a constitutional body for making recommendations to the Union and State Government on issues related to Goods and Service Tax. In this article, we look into the GST Council and understand one of the key councils that regulate all aspects of GST in India. The notification for bringing into force Article 279A with effect from 12th September, 2016 was issued on 10thSeptember, 2016. The GST Council is chaired by the Union Finance Minister. As per Article 279A (1) of the amended Constitution, the GST Council has to be constituted by the President within 60 days of the commencement of Article 279A. In the Union Cabinet meeting held on 12th September 2016, it was also decided to appoint: 1. The Secretary (Revenue) as the Ex-officio Secretary. As per the Constitution as amended, GST Council is required to be Constituted under article 279A of the Constitution which was so done by the President on 12 th September, 2016 vide Notification dated 10.09.2016. The Members of the Goods and Services Tax Council referred to in sub-clause (c) of clause (2) shall, as soon as may be, choose one amongst themselves to be the Vice-Chairperson of the Council for such period as they may decide. Details of services and goods that will be subjected to GST or which will be exempted from GST. the votes of all the State Governments taken together shall have a weightage of two-thirds of the total votes cast, in that meeting. The mission of the GST Council is to evolve by a process of wider consultation, a goods and services tax structure which is user-friendly and information technology-driven. The GST Council is a joint forum of the Central Government as well as the State Governments. Other matters pertaining to the implementation and regulation of GST in India. Thus GST is a unifier that is going to integrate various taxes being levied by the Centre and the State at present and provide a platform for forging an economic union of the country. While discharging the functions conferred by this article, the Goods and Services Tax Council shall be guided by the need for a harmonized structure of goods and services tax and for the development of a harmonized national market for goods and services. All rights reserved. One post of Additional Secretary to the Council in the Secretariat (at the level of Additional Secretary to the Government of India). 3.2 This tax reform will lead to creation of a single national market, common tax base and common tax laws for the Centre and States. The council contains the following members (a) Union Finance Minister (as chairperson) (b) Union Minister of States in charge of revenue or finance (as member) (c) the ministers of states in charge of finance or taxation or other ministers as nominated by each states government (as member). G… In the first meeting for the creation of the Council, the Cabinet provided for adequate funds for meeting the recurring and non-recurring expenses of the Secretariat. The Chairperson, Central Board of Excise and … the taxes, cesses and surcharges levied by the Union, the States and the local bodies which may be subsumed in the goods and services tax; the goods and services that may be subjected to, or exempted from the goods and services tax; model Goods and Services Tax Laws, principles of levy, apportionment of Goods and Services Tax levied on supplies in the course of inter-State trade or commerce under article 269A and the principles that govern the place of supply; the threshold limit of turnover below which goods and services may be exempted from goods and services tax; the rates including floor rates with bands of goods and services tax; any special rate or rates for a specified period, to raise additional resources during any natural calamity or disaster; special provision with respect to the States of Arunachal Pradesh, Assam, Jammu and Kashmir, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim, Tripura, Himachal Pradesh and Uttarakhand; and. any procedural irregularity of the Council not affecting the merits of the case. Copyright © 2021 VERVE Financial Services Private Limited. For Mains: Issues associated with GST, need for reforms and various measures announced in this regard. 4. Public Grievance Redressal Committees (GRC), Distribution of GST Taxpayers between Central & State Government. GST Council is the governing body of GST having 33 members, out of which 2 members are of centre and 31 members are from 28 state and 3 Union territories with legislation. The Goods and Services Tax Council shall recommend the date on which the goods and services tax be levied on petroleum crude, high speed diesel, motor spirit (commonly known as petrol), natural gas and aviation turbine fuel. SO 2957 (E) dated 15-9-2016. The Union Cabinet in its meeting held on 12th September, 2016 approved setting-up of GST Council and setting up its Secretariat. Four posts of Commissioner in the GST Secretariat (at the level of Joint Secretary to the Government of India). 2. The Secretariat is manned by officers taken on deputation from both the Central and State Governments. GST Registration Under the GST law, businesses with turnover exceeding Rs 40 lakh* (Rs 10 lakh for North-Eastern States, J&K, Himachal Pradesh and Uttarakhand) is compulsorily required to obtain GST registration. The GST council is a group of 33 people appointed by the Government to govern the law relating to GST. Tenure of the anti-profiteering authority has been extended by an additional 2 years as per the 35 th GST Council Meeting announcement. Following the assent of GST Bill, the Union Cabinet in a meeting held on 12th September 2016 approved setting-up of GST Council and setting-up of its Secretariat. GST Council is the Apex Constitutional Authority to decide policies of GST. The Government of India (GoI) introduced the GST Council to modify, regulate and reconcile the goods and services tax in India. 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