Which of the following statements regarding GST council are correct 1 It is a constitutional body co...........

Indian Polity (CDS) Commission/committee

Which of the following statements regarding GST council are correct?

1. It is a constitutional body constituted by the President under Article 279 A.

2. Decisions in the GST council are by 3/4th majority of members present and voting.

3. Voting power in the council is equally divided among centre and states.

Choose the correct option using the codes given below:

1 and 2 only

2 and 3 only

1 and 3 only

1, 2 and 3

Goods & Services Tax (GST) Council :

Recently centre decided to continue levy of GST compensation cess beyond June 2022 in order to pay States’ outstanding GST dues and to bridge the gap between dues and compensation cess receipts.
GST council is a constitutional body constituted by the President under Article 279 A for making recommendations to the Union and State Government on issues related to Goods and Service Tax.
GST Council is a joint forum of the Centre and the States consisting of:
Chairperson: the Union Finance Minister- Chairperson
Member: the Union Minister of State in charge of Revenue or FinanceMember
Members: the Minister in charge of Finance or Taxation or any other Minister nominated by each State Government
2/3rd of voting power is with the States and 1/3rd with the Centre which reflects the accommodative spirit of federalism. The Constitution provides for decisions being taken by a 3/4th majority of members present and voting.
The Goods and Services Tax (Compensation to States) Act, 2017 made provision to levy Compensation cess, for providing compensation to the States for the loss of revenue arising on account of implementation of the GST, till 2022.