As per the Constitution (101st) Amendment Act 2016 GST council has been created which consists of the following:-
The Union Finance Minister
- The Union Minister of State in charge of Revenue or Finance
- The Minister in charge of Finance or Taxation or any other Minister nominated by each State Government
Functioning
- Every decision of the GST council shall be taken at a meeting, by a majority of not less than three-fourths of the weighted votes of the members present and voting.
- The vote of the Central Government shall have a weightage of one-third and the vote of all the State Governments taken together shall have a weightage of two-thirds of the total votes cast.
Functions
The GST council makes recommendations to the Union and States regarding the following:-
- The taxes, cesses and surcharges which may be subsumed in GST
- Goods and services that may be exempted from GST
- Integrated Goods and Services Tax (IGST)
- Threshold limit of turnover below which goods & services may be exempted from GST
- The rates including floor rates with bands of goods and services tax
- Any special rate for a specified period, to raise additional resources during any natural calamity or disaster.
- Any other matter relating to the GST, as the Council may decide
