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GST COUNCIL

Goods and Services Tax - GST - By: - Mr. M. GOVINDARAJAN - Dated:- 20-1-2017 Last Replied Date:- 23-1-2017 - Section 12 of the Constitution (One hundred and first Amendment) Act, 2016 proposes to insert a new Article 279A after Article 279 which deals with Goods and Service Tax Council. Section 12 came into force with effect from 12.09.2016, vide Notification No. S.O. No. 2915(E), dated 10.09.2016. Constitution of Article 279A (1) provides that the President shall, within 60 days from the date o .....

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of the Council for such period as they may decide. The Cabinet approved creation of and it s Secretariat. The Cabinet inter alia took decisions for the following: Creation of the as per Article 279A of the amended Constitution; Creation of the Secretariat, with its office at New Delhi; Appointment of the Secretary (Revenue) as the Ex-officio Secretary to the ; Inclusion of the Chairperson, Central Board of Excise and Customs (CBEC), as a permanent invitee (non-voting) to all proceedings of the .....

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tation from both the Central and State Governments. Vide Notification No.SO 2957(E), dated 15.09.2016 the President of India constituted the containing the above members in the council. The is headed by Union Finance Minister Arun Jaitley and includes representatives of all the 29 states and 2 union territories. Functions of Article 279A (4) provides that shall make recommendations to the Union and the States on- the taxes, cesses and surcharges levied by the Union, the States and the local bodi .....

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including floor rates with bands of goods and services tax; special provisions with respect to the States of Arunachal Pradesh, Assam, J&K, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim, Tripura, Himachal Pradesh and Uttarakhand; and any other matter relating to the goods and services tax, as the Council may decide. Article 279A (5) provides that the Council shall recommend the date on which the GST be levied on petroleum crude, high speed diesel, motor spirit, natural gas and aviation turb .....

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te of the Central Government shall have a weightage of one third of the total votes cast; and the votes of all the State Governments taken together shall have a weightage of two thirds of the total votes cast in that meeting. 50% of the total number of Members of the Council shall constitute the quorum of the meeting. No act or proceedings of the Council shall be invalid merely by reason of- any vacancy in, or in any defect in, the constitution of the Council; or any defect in the appointment of .....

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eting At the meeting, held on 22.09.2016 and 23.09.2016, draft rules regarding GST were circulated and threshold for exemption and compensation norm discussed. A consensus on compounding or composition scheme was arrived at the meeting. The composition scheme provides for an easier method of calculating tax liability and it allows option for GST registration for dealers with turnover below the compounding cut-off. Second meeting Cracks surfaced in the second meeting of the with disagreement betw .....

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ture of 5%, 12%, 18% and 28%. The essential items like food grains will have a zero rate. According to the decision, 150 essential items in the consumer price index basket will attract zero tax. 5% tax - For mass consumption goods like butter, ghee; 12% tax - It is one of the standard rate; 18% tax - It is another standard rate; 28% tax - Luxury goods will attract this tax; 0% tax - 50% of Consumer Price Index basket items, food grains like rice and wheat, spices The above tax rate must be appro .....

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ld have a sunset clause of five years. Fourth meeting of The Centre and the states failed to emerge with a consensus on the issue of dual control at the fourth meeting of the on Friday. Out of the five options proposed in the meeting, the Council will now explore two options of horizontal or vertical division of tax assessees for dual control, an issue which has been pending since the second Council meeting on September 30 when differences emerged on the details of the arrangement. Fifth meeting .....

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T by 01.04.2017, the target fixed by the Central Government. This two day meet focused on finalizing three legislations viz., Central GST, State GST and compensation bill but the same has not been achieved except up to Sections 99 of Model GST law have been discussed Seventh meeting of Primary draft of CGST and SGST bills were cleared; Redrafting of one clause in the draft compensation bill. Compensation is to be paid to States on a bi-monthly basis instead of on quarterly basis as in the draft .....

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