The Union Cabinet Approves Formation and Functioning of GST Council cabinet
today granted its approval to the formation, process and functioning of GST council just four days
after President Pranab Mukherjee
gave his consent to the Goods and Services tax bill.
The GST council will be responsible for deciding various issues including the GST tax rate and how the new tax regime will function. The council will be headed by Union Finance Minister Arun Jaitley and members will comprise of state Finance Ministers and the Union government is planning to implement GST from April 1, 2017 and is working on a tight schedule.
So let’s discuss some questions related to this post:
1. The GST council will be headed by whom?
2. The government plans to roll out the new indirect tax regime from which date?
3. Who is the President of India?