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GST Council- mini parliament for GST

Goods and Services Tax - GST - By: - sandeep saini - Dated:- 2-9-2016 Last Replied Date:- 3-9-2016 - After a much awaited time period, now its matter of time, when GST is going to be a reality in India. The seriousness of the Government to implement GST, clearly appears from the passage of 122nd Constitutional Amendment Bill ( Constitutional Amendment Bill ) by both the houses of parliament i.e. Rajya Sabha as well as Lok Sabha. On the other hand, the States are also equally eager to implement G .....

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Bill ratified by at least 50% States and assent is given by the Hon ble President, after that the most important work before the Government would be, setting up of GST Council. As per Article 279A of the Constitution of India, the President shall setup GST Council within 60 days of the commencement of 122nd Constitutional Amendment Act, 2014. GST Council may prove to be most powerful federal forum in years to come. Nature of GST Council: The nature of GST Council will be quasi-legislative-cum-ad .....

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es i.e. the Finance Minister of the Centre and the Finance Ministers of the States, so it will not be easy for the Centre or the States to ignore its recommendations without any strong reason. Composition of GST Council: The GST Council shall consists of following members: Union Finance minister, who will be Chairperson of GST Council; Union minister of State incharge of Revenue or Finance; The minister incharge of Finance or Taxation or any other minister nominated by each State Government and .....

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lysed clause by clause; The apportionment of Integrated Goods and Services Tax ( IGST ), the principles that govern the place of supply and the principles of levy; Threshold limit of turnover below which goods and services may be exempted from GST; Special provisions with respect to the States of Arunachal Pradesh, Assam, Jammu and Kashmir, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim, Tripura, Himachal Pradesh and Uttrakhand; Prescribe the detailed procedure for conduct of its own business; Re .....

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aken together shall have a weightage of 2/3rd of total votes cast. Approval of any decision by the GST Council: In GST Council, every decision shall be taken, when it is approved by at least 75% of the weighted votes of members present and voting. From the above voting pattern, it appears that it will not be possible for the States to take any decision against the will of Centre, since the Centre has 33% votes and to get any decision passed, 75% votes are required, which is possible only when ce .....

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