Multiple Choice Questions on The Union Cabinet has recently approved the process formationand functioning of the Goods and Servic........... for UPSC Civil Services Examination (General Studies) Preparation

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Multiple Choice Questions

The Union Cabinet has recently approved the process formationand functioning of the Goods and Servic...........

Economic Affairs Tax System
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    The Union Cabinet has recently approved the process, formationand functioning of the Goods and Services Tax (GST) Council.

    Consider the following about it.

    1. It will be a constitutional body.

    2. It will be a joint forum of the Centre and the States chaired by the Prime Minister.

    3. The Council will make recommendations to the Union and theStates on GST rates.

    Select the correct answer using the codes below.

    1 and 2 only

    Incorrect Answer

    2 and 3 only

    Incorrect Answer

    1 and 3 only

    Correct Answer

    3 only

    Incorrect Answer
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    Explanation:
    2nd statement is incorrect. 
    GST Council has been established as per Article 279A of the Constitution. It is joint forum of the Centre and the States to make recommendations on important issues related to GST. Union Finance Minister is Chairperson of the council.
     

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