Get to know about GST Council
The GST Council is a constitutional body in India responsible for making recommendations to the Central and State Governments on issues related to Goods and Services Tax (GST). The GST Council is chaired by the Union Finance Minister and includes the Finance Ministers of all the states and union territories with a legislature.
The main functions of the GST Council are:
To recommend tax rates, including the ceiling and floor rates, for goods and services under GST. To recommend the threshold limit for registration of taxpayers. To recommend measures for the smooth functioning of the GST system, such as rules and procedures for filing returns, refunds, and assessments. To decide on the division of GST revenue between the central and state governments. To make recommendations on any other matter related to GST, including amendments to the GST Act.
Important!
The GST Council meets regularly to discuss and take decisions on various issues related to GST. The decisions taken by the GST Council are implemented through notifications and orders issued by the Central and State Governments. The GST Council has played a crucial role in the successful implementation of GST in India. Its recommendations have helped to streamline the GST system and make it more transparent and taxpayer-friendly.
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