Multiple Choice Questions on Consider the following statements about the Goods and Services Tax GST Council in India The GST Coun........... for UPSC Civil Services Examination (General Studies) Preparation

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Multiple Choice Questions

Consider the following statements about the Goods and Services Tax GST Council in India The GST Coun...........

Economic Affairs Tax System
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    Consider the following statements about the Goods and Services Tax (GST) Council in India:

    • The GST Council is chaired by the Union Finance Minister.

    • The Council is a constitutional body for making recommendations to the Union and State Governments on issues related to Goods and Service Tax.

    • The Council has been given the mandate to regulate the tax rate, tax exemption, and the due date of tax returns under GST.

    How many of the above statements are correct? 

     

    •  

    Only one
     

    Incorrect Answer

     Only two

    Incorrect Answer

    All three

    Correct Answer

    None

    Incorrect Answer
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    Explanation:

    • Correct  The GST Council is chaired by the Union Finance Minister.

    • Correct  The Council is a constitutional body and makes recommendations to the Union and the State Governments on all issues related to GST.

    • Correct  The Council has the authority to regulate tax rates, tax exemptions, and due dates for tax returns under the GST regime.

    By: Arun Rana
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