On GST rates including floor rate with bands of GST and any special rate for time being to arrange resources t… 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. 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. 4. It is tasked with the duties to make important decisions and changes in GST. The Goods and Services Tax Council shall consist of the following members, namely: —. 2. Context: The GST Council in its recently held 32nd meeting took a slew of decisions aimed at reducing the tax and compliance burden on small and medium enterprises. 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. It The 42 GST council meeting has taken some major decision based on the GSTR […] Consider more legally viable options For Mains: Issues associated with GST, need for reforms and various measures announced in this regard. The GST Council is tasked to ensure that one uniform rate of GST is applie… 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. 2. As per Article 279A (1) of the amended Constitution, the president should approve to constitute within 60 days of the commencement of Article 279A. On 10th September 2016, the notification stated to bring Article 279A into force with effect from 12th September 2016. The meeting chaired the finance minister Nirmala sitharaman and the Minister of State (MoS) for Finance Anurag Thakur along with finance minister of all the states. One-half of the total number of Members of the Goods and Services Tax Council shall constitute the quorum at its meetings. All Rights Reserved. It was formed under Article 279A of the Indian Constitution. The GST council is a group of 33 people appointed by the Government to govern the law relating to GST. 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. The Goods and Services Tax Council shall determine the procedure in the performance of its functions. In the Union Cabinet meeting held on 12th September 2016, it was also decided to appoint: 1. Govt Likely To Push For Merger Of 12 And 18 Per Cent Slabs In GST Council Meeting In March by Swarajya Staff - Feb 19, 2021 03:13 AM GST is the new unified tax regime in India. The notification for bringing into force Article 279A with effect from 12th September, 2016 was issued on 10thSeptember, 2016. The Council is chaired by the Union Finance Minister and is tasked with revisions, regulations and rates that may apply to the GST law. The Secretary (Revenue) as the Ex-officio Secretary. On Threshold limit below which, services and goods will be exempted from GST. any procedural irregularity of the Council not affecting the merits of the case. GST Council has been constituted vide Notification No. 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. News Electricity Council, just like a GST Council, can ease India’s power sector woes The Modi government’s renewable energy target of 175 GW by 2022 and 450 GW by 2030, has seen slower-than-expected progress. SO 2957 (E) dated 15-9-2016. This could include anything that falls under the regime. 2. 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. GST Council is a federal forum with both centre and states in India on board. Four posts of Commissioner in the GST Secretariat (at the level of Joint Secretary to the Government of India). The Goods and Services Tax Council is a decision making body of Constitution which aims at making various recommendations to the Union and the State Government. The Chairperson, Central Board of Excise and … The GST Council is the key basic leadership body that will take all the fundamental choices identified with the GST. The GST Council dictates tax rate, tax exemption, the due date of forms, tax laws, and tax deadlines, keeping in mind special rates and provisions for some states. It ensures that the taxpayers and other authorities are complying with the Act and performs every function that is necessary in respect of the Act. Consequent upon this, the Hon’ble President of India accorded assent on 8th September, 2016, and the same was notified as the Constitution (One Hundred and First Amendment) Act, 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. Structure of the GST Council The structure of the GST Council is determined by Article 279 (1) of the amended Constitution of India. Copyright © 2021 VERVE Financial Services Private Limited. The GST council is the key decision-making body that will take all important decisions regarding the GST. September, 2016 vide Notification dated 10.09.2016. The Union Minister of State in-charge of Revenue or Finance. 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. Creation of the GST Council as per Article 279A of the amended Constitution; Creation of the GST Council Secretariat, with its office at New Delhi; Appointment of the Secretary (Revenue) as the Ex-Officio Secretary to the GST Council; Inclusion of the Chairperson, Central Board of Excise and Customs (CBEC), as a permanent invitee (non-voting) to all proceedings of the GST Council; Create one post of Additional Secretary to the GST Council in the GST Council Secretariat (at the level of Additional Secretary to the Government of India), and four posts of Commissioner in the GST Council Secretariat (at the level of Joint Secretary to the Government of India). The Union Cabinet in its meeting held on 12th September, 2016 approved setting-up of GST Council and setting up its Secretariat. As stated earlier, GST Council is the governing body for the implementation of GST rules in India. One post of Additional Secretary to the Council in the Secretariat (at the level of Additional Secretary to the Government of India). In this article, we look into the GST Council and understand one of the key councils that regulate all aspects of GST in India. Proposals and decisions related to GST changes are discussed in the GST Council Meeting, 34 of which have already been held. On subsuming of various taxes, cess, and surcharge in GST. In the previous 35th GST Council Meeting, GST rate cuts on electronic vehicles were referred to the fitment committee to check whether the rate cuts are feasible or not. The GST Council Secretariat shall be manned by officers taken on deputation from both the Central and State Governments. The GST council clarified that Aadhaar (and Aadhaar OTP) can be used for GST Registration instead of the need to submit multiple documents under earlier GST registration rules. Find trademark class for over 8000 goods and services, Agriculture Entrepreneurship Promotion Scheme. All rights reserved. The Council replace all the existing multiple taxation process and introduce new taxation methods to ease the taxation process for the taxpayers. The Council shall also monitor all the taxation process to provide support to the respective departments and to avoid the fraudulent process. It is made of: The Union Finance Minister (as Chairman), The Union Minister of State in charge of Revenue or Finance, and The GST Council is authorised to determine the rate of tax applicable under the GST model, tax exemption rules, the due date of submitting GST forms, tax related laws and deadlines and special exemptions for some States of India. 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. Other matters pertaining to the implementation and regulation of GST in India. The Goods and Services Tax Council shall make recommendations to the Union and the States on—. 3. 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. The Secretariat is manned by officers taken on deputation from both the Central and State Governments. As per Article 279A (4), the Council will make recommendations to the Union and the States on important issues related to GST, like the goods and services that may be subjected or exempted from GST, model GST Laws, principles that govern Place of Supply, threshold limits, GST rates including the floor rates with bands, special rates for raising additional resources during natural calamities/disasters, special provisions for certain States, etc. 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). A representative from the Central Board of Excise and Customs (CBEC) is a chairperson and a permanent non-voting invitee for all meetings of the GST council. The President shall, within sixty days from the date of commencement of the Constitution (One Hundred and First Amendment) Act, 2016, by order, constitute a Council to be called the Goods and Services Tax Council. 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. 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. Details of services and goods that will be subjected to GST or which will be exempted from GST. In fact, the Council’s mandate gives it the freedom to handle “any other matter” related to the tax law. IndiaFilings.com is committed to helping entrepreneurs and small business owners start, manage and grow their business with peace of mind at an affordable price. The GST Council directs charge rate, charge exception, charge laws, the due date of structures, and expense due dates, remembering uncommon rates and arrangements for few states. The 42nd GST Council meeting finally took place in New Delhi on 5th October 2020. GST Council Meet: Council Discussed The Issue Of Compensation To States, Says Finance Secretary The current year has seen slowing down of economy due to Covid-19 which has led to low GST collections, said Finance Secretary AB Pandey today after the GST Council… The main purpose behind this 36th GST Council Meeting is to decide GST rate cut on EV (Electronic Vehicles). The press release below by the Ministry of Finance, shows the announcement for the implementation of GST Council: The GST Council consists of the following members: In the Union Cabinet meeting held on 12th September 2016, it was also decided to appoint: The GST Council will make recommendations on: The Secretariat manages the GST Council. The Cabinet inter alia took decisions for the following: The Cabinet also decided to provide for adequate funds for meeting the recurring and non-recurring expenses of the GST Council Secretariat, the entire cost for which shall be borne by the Central Government. Member; the Minister in charge of Finance or Taxation or any other. The entire cost for managing the Secretariat is borne by the Central Government. “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 … Public Grievance Redressal Committees (GRC), Distribution of GST Taxpayers between Central & State Government. The Goods and Services Tax Council shall establish a mechanism to adjudicate any dispute —, between the Government of India and one or more States; or, between the Government of India and any State or States on one side and one or more other States on the other side; or. The Union Finance Minister (as Chairman). The industry has sent a fresh SOS to government. The GST Council is a federal forum with central and state governments in India on board. 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. 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. In fact, it is shocking to note that a lot of people don’t even know of the existence of the All rights reserved.Unless otherwise indicated, all materials on these pages are copyrighted by VERVE Financial Services Private Limited. GST Council is the Apex Constitutional Authority to decide policies of GST. And so it has the following features: The office of the GST Council is located in New Delhi, India. The GST Council is an apex committee that holds the responsibility of modifying, reconciling, or procuring any laws or regulations related to goods and services tax 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 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. The Minister in charge of Finance or Taxation or any other Minister, nominated by each State Government. 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. The Secretary (Revenue) as the Ex-officio Secretary. The Finance Ministry is keen on pushing the agenda of merger of GST slabs in the next meet. Tenure of the anti-profiteering authority has been extended by an additional 2 years as per the 35 th GST Council Meeting announcement. (279A.) Currently, on electronic vehicles the 12% GST rate is applicable. 3. Ever wondered how the GST […] The GST Council consists of the following members: 1. The next GST council meeting likely to take place by mid-March. The Government of India (GoI) introduced the GST Council to modify, regulate and reconcile the goods and services tax in India. The GST Council will make recommendations to Union and States relating to GST. 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 Union Minister of State in-charge of Revenue or Finance. As per Article 279A of the amended Constitution, the GST Council which will be a joint forum of the Centre and the States, shall consist of the following members: -. 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 Union Finance Minister (as Chairman). Role of the GST Council The GST Council will make recommendations to the center and … The GST Council is a joint forum of the Central Government as well as the State Governments. 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. 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 Council will attempt to arrive at a decision on letting states borrow over and above their already enhanced borrowing limits to bridge the shortfall in their 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. 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. The provisions of Article 279A of the Constitution of India with respect to constitution of GST Council and its mandate are as below: © Content Owned by Ministry of Finance, Government of India. 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 process for creating GST Council started in India when the Constitution (One Hundred and Twenty-second Amendment) Bill 2016, for the introduction of Goods and Services Tax (GST) was accorded assent by the President on 8th September 2016. The Chairperson, Central Board of Excise and Custom (CBEC), as a permanent invitee (non-voting) to all proceedings of the Council. Union Finance Minister is Chairman of Council. Here are the key takeaways from the 37th GST Council Meeting held in Panaji on September 20, 2019. The law and procedure-related changes, and GST rate changes for goods and services have been announced. No act or proceedings of the Goods and Services Tax Council shall be invalid merely by reason of—, any vacancy in, or any defect in, the constitution of the Council; or, any defect in the appointment of a person as a Member of the Council; or. These decisions are made regarding various Goods and Services Tax (GST) related issues in India. G… any other matter relating to the goods and services tax, as the Council may decide. Further, Finance Minister Shri Arun Jaitley also decided to call the First Meeting was conducted on 22nd and 23rd September 2016 in New Delhi. No part of these pages, either text or image may be used for any purpose. The Minister in charge of Finance or Taxation or any other Minister, nominated by each State Government. The GST Council is a body or committee which makes key decisions related to changes in GST. This council works for the development, advancement, and management of the GST Act. In fact, it is shocking to note that a lot of people don’t even know of the existence of the council. For Prelims: About GST Council- composition, functions and related key facts, overview of GST. Meanwhile, the 42nd GST Council meet, which will be a full agenda meet, is likely to discuss other agenda items such as the creation of GST Tribunals. between two or more States, arising out of the recommendations of the Council or implementation thereof. 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. The GST council will be supposed to make the recommendation to the Union and State on the following matters:- 1. Revenue or Finance 5th October 2020 meeting held on 12th September, 2016 of. 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