Goods and Service Tax Council (GST) of India is headed by:

Question

Question

This question was previously asked in

Rajasthan Gram Sevak & Hostel Superintendent II Official Paper (Held On 18 Dec, 2016)

Answer 1

The correct answer is Finance Minister.

Key Points

GST Council is the governing body of GST with 33 members.
Goods and Service Tax Council (GST) of India is headed by the union finance minister.
The GST Council's first chairman was Arun Jaitley.
The GST council is currently chaired by Union Finance Minister Nirmala Sitharaman.
The GST council is established under Article 279 A of the Indian constitution.

Important Points

Under GST present goods and services are taxed at 0%, 5%, 12%, 18% & 28%.
GST (Goods and Services Tax) is an indirect tax in India that applies to the manufacture, sale, and consumption of goods and services.
In India, the Goods and Services Tax (GST) went into effect on July 1, 2017.
As part of the 101st Amendment, the GST was enacted.
The state of Assam was the first to approve the GST bill.
Odisha is the 16th state to vote in favor of the GST bill.
GST implementation needs the assent of 16 states.