12 December, 2019
Syllabus subtopic: Government policies and interventions for development in various sectors and issues arising out of their design and implementation
Prelims focus: about GST, GST Council
Mains Focus: About various challenges in implementing GSt, Concerns raised by the states and govt’s efforts to address them.
News: As talks of a hike in goods and services tax (GST) rates gain momentum, there is a sense of disquiet among states regarding any major tinkering of the slabs, especially the lower tax slab and exempted items. The Council meeting of December 18, coming in the backdrop of the Centre’s struggles on the revenue side sets the stage to reverse the direction of rate cuts.
About the issue
The emerging view is that revenue gain from any such rate hike has to be substantial and not cause inconvenience to the common man, though they are of the view that ways need to be found to narrow the widening revenue gap.
Concerns raised and Suggestions by the States
About GST Council
The Goods and Services Tax (GST) is governed by the GST Council. Article 279 (1) of the amended Indian Constitution states that the GST Council has to be constituted by the President within 60 days of the commencement of the Article 279A.
According to the article, GST Council will be a joint forum for the Centre and the States. It consists of the following members:
Note: For an in-depth analysis about GST and other issues related to it, click on the link below:
Source: Indian Express
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