Published on: January 1, 2022

GST COUNCIL MEETING

GST COUNCIL MEETING

neurontin 300 mg cost NEWS

http://gflooring.com/index GST Council’s 46th meeting was held recently

WHAT HAPPEN AT THE MEET

  • Recommended to defer the decision to change the rates in textiles recommended in the 45th GST Council meeting
  • Existing GST rates in textile sector would continue beyond 1st January, 2022.

ABOUT GST COUNCIL

WHAT – Constitutional body for making recommendations to the Union and State Government on issues related to Goods and Service Tax.

FORMATION

  • Article 279-A
  • President to constitute a GST Council by an order
  • Secretariat of the Council is located in New Delhi
  • Union Revenue Secretary acts as the ex-officio Secretary to the Council.

FUNCTIONS

  • Will take all important decisions regarding the GST
  • 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.
  • Predominant responsibility is to ensure to have one uniform tax rate for goods and services across the nation.

STRUCTURE

  • Joint forum for the Centre and the States
  • The Union Finance Minister will be the Chairperson
  • As a member, the Union Minister of State will be in charge of Revenue of Finance
  • The Minister in charge of finance or taxation or any other Minister nominated by each State government, as members.