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GST Council to Meet on 7 October; ITC Relief on the Agenda
સમાચારમાં કેમ?
GST Council meets 7 October: which Article creates it, and who chairs it? GS-III Prelims essentials
The GST Council meets on 7 October with ITC relief proposals backed by its Law Committee.
Why it matters: general awareness
What you need to know
2 મિનિટ
The GST Council is scheduled to meet on 7 October, and proposals on input tax credit relief may come up.
The Council's Law Committee has backed relief on items such as insurance, catering, samples and write-offs.
The Council is a constitutional body under Article 279A, chaired by the Union Finance Minister with State finance ministers as members.
સ્રોત: Topper IAS editorial (PIB / The Hindu / Indian Express)
મુખ્ય તથ્યો
Remember these
- GST Council meets on 7 October; input tax credit (ITC) relief may be discussed
- Law Committee has backed ITC relief on insurance, catering, samples and write-offs
- GST Council is a constitutional body under Article 279A
- Chaired by the Union Finance Minister; State finance ministers are members
- Article 246A gives Parliament and State legislatures the power to levy GST
પ્રિલિમ્સ · મેઇન્સ
How the exam will ask it
પ્રિલિમ્સ
- The GST Council is provided for under Article 279A of the Constitution, not Article 246A.
- The Union Finance Minister chairs the GST Council, and State finance ministers are its members.
- Input tax credit allows a registered taxpayer to reduce tax paid on inputs from the tax payable on outputs.
મેઇન્સ
GS-III Economy (Taxation) and GS-II federalism. Issue: ITC restrictions on items like insurance and catering raise business costs and disputes; the GST Council under Article 279A recommends rate and credit rules through cooperative federalism. Implication: relief eases compliance and cost cascading but affects revenue; way forward is clear, uniform ITC rules agreed by consensus.
Quick recall
Answer before you reveal
Consider the following statements about the GST Council:
- It was established under Article 246A of the Constitution.
- The Union Finance Minister is its Chairperson.
Which of the statements given above is/are correct?
- 1 only
- 2 only
- Both 1 and 2
- Neither 1 nor 2
જવાબ જુઓ
જવાબ: B — Correct: 2 only — Statement 2 is correct as the Union Finance Minister chairs it, while statement 1 is wrong. • 1 only — wrong: Statement 1 is wrong: the GST Council is provided under Article 279A, while 246A gives the power to levy GST. • Both 1 and 2 — wrong: Statement 1 is wrong, since Article 246A is not the source of the Council, so both cannot be correct. • Neither 1 nor 2 — wrong: Statement 2 is factually correct, so 'Neither' is ruled out.
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