GST Council is an apex member committee to modify, reconcile or to procure any law or regulation based on the context of goods and services tax in India. The council is headed by the union finance minister Nirmala Sitharaman assisted with the finance minister of all the states of India. The...
This compelled the GST Council headed by Finance Minister Arun Jaitley in October 2017, to defer RCM mechanism. The Committee has recommended further postponement for RCM. Only businesses under composition Scheme would come under RCM. The Committee’s proposal also aims to simplify the procedures ...
The council of the GST will be headed by the Union Finance Minister that is currently Arun Jaitley. The main purpose of GST is to bring about the single tax system for the manufacture and the sale of goods at the both central and the state level in the country. The GST is mainly ...
Goods & Services Tax Council headed by Finance Minister Nirmala Sitharaman and comprising of representatives of all states and Union Territories also approved an electronic invoicing system and e-ticketing in multiplexes. The electronic invoicing system would be rolled out in a phase-wise manner for ...
Services Tax (GST). For the purpose, a new Fourth List is proposed to be created in the Seventh Schedule of the Constitution. Designed to deal exclusively with GST, the Fourth List visualises a governing council headed by Union finance minister and comprising state finance ministers as its ...
The council has imposed a special “rehabilitation cess” on some specific items in order to source the funds intended to extend relief to the flood-ravaged Kerala citizens. #1. Why is the rehabilitation cess introduced by the GST Council? As everyone knows that the State of...
01 Jan 1970Posted By: E-StartupIndia Importance of GST Compliance Rating check With the number of provisions under the implemented indirect law, GST Council has introduced the mechanism of GST Compliance Rating check in order to rate the performance of all the registered taxable Individuals. GST...
Prelims level: GST Council Mains level: Powers and Functions of GST Council Why in the news? The 53rd meeting of the Goods and Services Tax (GST) Council convened in Delhi, chaired by Nirmala Sitharaman, Union Minister for Finance and Corporate Affairs, on Saturday, June 22nd. What is the...
A bench, headed by Justice Dhananjaya Y Chandrachud, interpreted the pertinent legal provisions to further hold that the recommendations of the GST Council are not binding on the Centre and states, and that such recommendations only have a persuasive value. The court pointed out that there...
Land, GST Bills to Be Referred to Panels: Committee Is Likely to Be Headed by Senior BJP MP SS AhluwaliaShah, Amita