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GST COUNCIL VOTED FOR THE FIRST TIME IN ITS 38th MEETING, PUBLIC FINANCE -…

- - - - ⦁ As per the Constitution (One Hundred and First Amendment) Act, 2016, in case of voting, every decision of the GST Council has to be taken by a majority of not less than three-fourths of the weighted votes of the members present.
      - ⦁ The vote of the central government has a weightage of one-third of the total votes cast, and the votes of all the state governments taken together have a weightage of two-thirds of the total votes cast in that meeting.
      - Composition:
        
        ⦁ As per Article 279A of the amended Constitution, the GST Council which will be a joint forum of the Centre and the States, shall consist of the following members: -
        
        ⦁ Union Finance Minister - Chairperson;
        
        ⦁ Minister in charge of Finance or Taxation or any otherMinister nominated by each State Government - Members.
        
        ⦁ Union Minister of State in charge of Revenue or Finance - Member;
        
        Functions of GST Council:
        
        ⦁ As per Article 279A (4), the Council will make recommendations to the Union and the States on important issues related to GST, like Taxes, cesses, and surcharges to be subsumed under the GST;
        
        ⦁ Goods and services which may be subject to, or exempt from GST;
        
        ⦁ The threshold limit of turnover for application of GST;
        
        ⦁ Rates of GST; Model GST laws, principles of levy, apportionment of IGST and principles related to the place of supply;
        
        ⦁ Special provisions with respect to the eight north-eastern states, Himachal Pradesh, Jammu and Kashmir, and Uttarakhand; and Other related matters.
        
        ⦁ GST rates will include the floor rates with bands, special rates for raising additional resources during natural disasters/ calamities, special provisions for certain States, etc.