GSTplus
Updated :
A GST Council would be constituted comprising the Union Finance Minister (who will be the Chairman of the Council), the Minister of State (Revenue) and the State Finance/Taxation Ministers to make recommendations to the Union and the States on
- the taxes, cesses and surcharges levied by the Centre, the States and the local bodies which may be subsumed under GST;
- the goods and services that may be subjected to or exempted from the GST;
- the date on which the GST shall be levied on petroleum crude, high speed diesel, motor sprit (commonly known as petrol), natural gas and aviation turbine fuel;
- model GST laws, principles of levy, apportionment of IGST and the principles that govern the place of supply;
- the threshold limit of turnover below which the goods and services may be exempted from GST;
- the rates including floor rates with bands of GST;
- any special rate or rates for a specified period to raise additional resources during any natural calamity or disaster;
- special provision with respect to the North-East States, J&K, Himachal Pradesh and Uttarakhand; and
- any other matter relating to the GST, as the Council may decide.
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