• UGI USER
  • Jun 14, 2024
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GST COUNCIL MEETING ON JUNE 22, FIRST IN 2024

Why in the news?

  • The GST Council will hold its 53rd meeting on June 22, 2024, in New Delhi.
  • This meeting comes eight-and-a-half months after the previous one.
  • The Council, expected to meet quarterly, has convened only six times since 2022.
source:medium

About GST Council:

  • Established: Post Constitutional (122nd Amendment) Bill, assented on September 8, 2016.
  • Role: Constitutional body providing GST recommendations to Union and State governments.
  • Objectives:
  • Ensure smooth GST implementation and regulation.
  • Harmonize tax laws, simplify structure, eliminate cascading taxes, reduce compliance costs.
  • Monitor taxation processes to prevent fraud.
About the Constitutional Provisions for  GST Council :

Constitution and Composition:

Article 279A(1):

  • President to constitute GST Council within 60 days.
  • Members include Union Finance Minister, Union Minister of State for Revenue/Finance, and State Finance/Taxation Ministers.

Vice-Chairperson: Chosen by members (Article 279A(3)).

Functions:

  • Recommend on taxes, exemptions, model laws, threshold limits, rates, special provisions, and dates for GST on specific fuels (Articles 279A(4) and 279A(5)).

Procedures:

  • Determine operational procedures (Article 279A(8).
  • Establish dispute resolution mechanism (Article 279A(11).

Decision-Making:

  • Quorum of one-half members (Article 279A(7).
  • Decisions by three-fourths majority, Central Government has one-third vote weight, States have two-thirds (Article 279A(9).

Guidance and Validity:

  • Ensure harmonized tax structure (Article 279A(6).
  • Council’s acts are not invalid due to vacancies or procedural issues (Article 279A(10).

Associated Article:

https://universalinstitutions.com/need-for-single-rate-gst-exemption-less-taxation-eac-pm-chairman-bibek-debroy/