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

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Rajasthan Gram Sevak & Hostel Superintendent II Official Paper (Held On 18 Dec, 2016)
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  1. Prime Minister
  2. Finance Minister
  3. Finance Secretary
  4. Speaker of Lok Sabha

Answer (Detailed Solution Below)

Option 2 : Finance Minister
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Detailed Solution

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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.

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