Multiple Choice Questions on With reference to the GST Council consider following statements It is a statutory body established b........... for UPSC Civil Services Examination (General Studies) Preparation

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Multiple Choice Questions

With reference to the GST Council consider following statements It is a statutory body established b...........

Economic Affairs Tax System
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    With reference to the GST Council, consider following statements

    1. It is a statutory body established by the Good and Services Act, 2017.
    2. It is responsible for any revision or enactment of rule or any rate changes of the goods and services in India.
    3. It is chaired by Union Finance Minister and each state Chief Ministe act as an member of this council.
    4. The vote of the Central Government shall have more weightage with respect to combined weightage of State governments.

    Select the incorrect statement.

    1,2&4 only

    Incorrect Answer

    2,3&4 only

    Incorrect Answer

    1,3&4 only

    Correct Answer

    1,2&3 only

    Incorrect Answer
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    Explanation:
    • It is an constitutional body for making recommendations to the Union and State Government on issues related to Goods and Service Tax.
    • 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.
    • It is responsible for any revision or enactment of rule or any rate changes of the goods and services in India.
    • The GST Council is chaired by the Union Finance Minister and other members are the Union State Minister of Revenue or Finance and Ministers in-charge of Finance or Taxation of all the States.
    • The vote of the Central Government shall have a weightage of one third of the total votes cast, and the votes of all the State Governments taken together shall have a weightage of two-thirds of the total votes cast in that meeting. Hence only statement 2nd is correct.

    By: Shubham Tiwari
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    Let's Discuss

    Raminder Savra

    review 4th statement

    0 0 reply

    Shubham Tiwari

    Issue resolved,thanks Raminder

     0 0 reply
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