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Which of the following statements(s) is/are correct about GST council of India? Select the correct answer from the options given below:

  1. The Union cabinet approved setting up of the GST council and 14th September 2016.
  2. The Union finance minister is the Chairman of GST council of India.
  3. The first meeting of the GST council was held on 30th September 2016.

    A1, 3

    B1, 2

    C2 only

    D2, 3

    Answer:

    C. 2 only

    Read Explanation:

    The GST Council is a constitutional body created to make recommendations to the Union and State Governments on important issues related to the Goods and Services Tax (GST).


    Related Questions:

    ലോട്ടറിയുടെ പുതുക്കിയ ജി എസ് ടി നിരക്ക് എത്രയാണ് ?
    The full form of GST is :
    ജി എസ് ടിയെ സംബന്ധിച്ച നിയമനിർമാണത്തിൽ പാർലമെന്റിനും സംസ്ഥാന നിയമസഭകൾക്കും അംഗീകാരം നൽകുന്ന ഭരണഘടനാ അനുച്ഛേദം ഏത് ?

    In light of the GST Act, which of the following statements are true ?

    1. GST is to be levied on supply of goods or services.
    2. All transactions and processes would be only through electronic mode
    3. Cross utilization of goods and services will be allowed.

      What are the proposed benefits of GST?

      1.Overall reduction in prices for consumers.

      2.Reduction in multiplicity of taxes, cascading and double taxation.

      3.Decrease in ‘black’ transactions.

      Choose the correct option.