Which of the following statements is/are correct about GST Council und

1.	Which of the following statements is/are correct about GST Council under Article 279A?1. Union Finance Minister is the Chairman of the Council.2. Its Quorum must be 1/4th.3. The majority of the decisions must be taken by 2/3rd Majority of the weighted votes.1. 1 only2. 1 and 3 only3. 2 and 3 only4. 2 only
Answer» Correct Answer - Option 1 : 1 only The correct answer is 1 only. Article 279A: GST Council President must constitute a GST Council under 60 days after the 101^st Constitutional Amendment Act, 2017. Composition: Chairman: Union Finance Minister (Hence, Statement 1 is correct.) Member: Union Minister in charge of Finance or Revenue Member: Minister in charge of Finance or Taxation or any other minister nominated by each state government Vice-chairman: Among Members Recommendations on: taxes, cess, and surcharge levied by Union, State & other local bodies Goods & Services exempted from GST model GST laws apportionment principles threshold limit of turnover, rates(floor rates) any special rate for the special period during any natural calamity or disaster special provisions concerning states of Arunachal Pradesh, Assam, J&K, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim, Tripura, Himachal Pradesh, Uttrakhand, etc. Date of levy on Petroleum crude, high-speed diesel, motor spirit(petrol), natural gas, & aviation turbine fuel. Development of the harmonized natural market for Goods & Services. Quorum: 50%(members). Hence, Statement 2 is incorrect. Majority for decision: 3/4th of the weighted votes of Present & Voting. Hence, Statement 3 is incorrect. Central Government Weightage is 1/3rd State government weightage is 2/3rd

Which of the following statements is/are correct about GST Council under Article 279A?1. Union Finance Minister is the Chairman of the Council.2. Its Quorum must be 1/4th.3. The majority of the decisions must be taken by 2/3rd Majority of the weighted votes.1. 1 only2. 1 and 3 only3. 2 and 3 only4. 2 only

Answer» Correct Answer - Option 1 : 1 only

The correct answer is 1 only.

Article 279A: GST Council

President must constitute a GST Council under 60 days after the 101^st Constitutional Amendment Act, 2017.
Composition:
- Chairman: Union Finance Minister (Hence, Statement 1 is correct.)
- Member: Union Minister in charge of Finance or Revenue
- Member: Minister in charge of Finance or Taxation or any other minister nominated by each state government
- Vice-chairman: Among Members
Recommendations on:
- taxes, cess, and surcharge levied by Union, State & other local bodies
- Goods & Services exempted from GST
- model GST laws
- apportionment
- principles threshold limit of turnover, rates(floor rates) any special rate for the special period during any natural calamity or disaster
- special provisions concerning states of Arunachal Pradesh, Assam, J&K, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim, Tripura, Himachal Pradesh, Uttrakhand, etc.
Date of levy on Petroleum crude, high-speed diesel, motor spirit(petrol), natural gas, & aviation turbine fuel.
Development of the harmonized natural market for Goods & Services.
Quorum: 50%(members). Hence, Statement 2 is incorrect.
Majority for decision: 3/4th of the weighted votes of Present & Voting. Hence, Statement 3 is incorrect.
- Central Government Weightage is 1/3rd
- State government weightage is 2/3rd

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