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GST COUNCIL
- 1. CA. ANSHUMAN A.S. MC O M , L L B , F C A , F C S , F C M A , D I R M ( I C A ) , D I S A ( I S A ) GST COUNCIL
- 2. Recent Developments Rajyasabha Passes Constitution Amendment Bill Loksabha Ratifiesthe Amendments Various States Ratify the Bill under Article 368 Presidential Assent on 08.09.2016 GST Council will be formed on or before 10.11.2016 Section 12 has come into force on 12.09.2016
- 3. Formation of theGST Secretariat 1 Addl. Secretary 4 Commissioners Manned by Central and State Officers First Meeting on 22nd and 23rd Sept, 2016 Funded entirely by Central Govt.
- 4. Composition of GSTCouncil Union Finance Minister, Chairperson To be Elected, Vice Chairperson Union Minister of State, Revenue/Finance, Member Finance/Taxation/Any Other Minister of Each State, Member Chairman, CBEC, Ex- Officio Permanent Invitee Union Revenue Secretary, Ex-Officio Secretary
- 5. Mandates for theGST Council Council Shall make Recommendation to The Union and The States, Regarding, Taxes to be Subsumed Taxed and Exempted Goods and Services Model GST Law Threshold Limit Rates of Tax Special Rate for Addl. Resources Special Status for Some States Any Other Matter Inclusion of Petroleum Products Guided by need for Harmonised Structure of GST, Development of Harmonised National Market
- 6. Rules of Meetings 50% Quorum 3/4thMajority of Weighted Votes 1/3rd Weight to Central Govt. 2/3rd Weight to State Govts. taken together
- 7. Miscellaneous Proceedings not Invalid,just because of a. Any vacancy in the Council b. Any defect in Constitution c. Any defect in appointment of a member d. Procedural irregularity not affecting merits of Case Council may •Determine the procedure in performance of its functions •Decide about the modalities of resolving disputes arising out of its recommendations.
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