THE Wagon of GST i.e GOODS AND SERVICE TAX has started its moment towards applicability. The proposed date of applicability is 01/04/2016.
GST council would play an important role for successful implementation of GST provisions. The newly inserted Article No. 279A give power to council for making recommendation to the Union and States on matters like:-
1.Tax rates, surcharge their-on
2. list of exempted goods and services
3. Exemptions limits
4. Special provisions with respect to the States of Arunachal Pradesh, Assam, Jammu and Kashmir, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim, Himachal Pradesh and Uttarakhand.
5. Other matters relating to the GST
Council shall also recommend the date on which the GST to be levied on Petroleum crude, high speed diesel, motor spirit(commonly known as petrol), Natural gas and aviation turbine fuel.
The council shall consist of the following members:-
- The Union Finance Minister, act as chairman
- The Union Minister of State in Charge of Revenue or Finance, act as member
- The Minister in charge of Finance or Taxation or any other Minister nominated by each state Government, act as member.
The members may choose one amongst themselves Vice -Chairperson of the council for such period as may decide