CameraIcon
CameraIcon
SearchIcon
MyQuestionIcon
MyQuestionIcon
Question

Q. With regards to the formation of the GST Council, which of the following statements is/are correct?

Select the correct answer using the codes given below:


A
1 and 2 only
No worries! We‘ve got your back. Try BYJU‘S free classes today!
B
2 only
No worries! We‘ve got your back. Try BYJU‘S free classes today!
C
3 only
No worries! We‘ve got your back. Try BYJU‘S free classes today!
D
2 and 3 only
Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses
Open in App
Solution

The correct option is D 2 and 3 only

Explanation:

  • Statement 1 is incorrect. The GST Council is constituted with the Union Finance Minister as Chairman, the Union Minister of State in charge of Revenue or Finance, and the Minister in charge of Finance or Taxation or any other, nominated by each state government. The Members shall choose a Vice-Chairman from amongst themselves. Hence the Minister of state for finance or Revenue is not the vice-chairperson of the council by default.
  • Statement 2 is correct. All the states and the UTs collectively have 2/3rd of the weightage and the Center has 1/3rd of the weightage.
  • Statement 3 is correct. All the decisions of the GST council like tax rates, policies, rules, laws, etc are taken by 75% majority if there is a need for voting.

flag
Suggest Corrections
thumbs-up
0
BNAT
mid-banner-image