Economics • Indian EconomyMedium
What is the core mandate of the 'Goods and Services Tax (GST) Council' constituted under Article 279A of the Constitution of India?
A. To audit the annual tax collection accounts of both the central and state governments
B. To make recommendations to the Union and State Governments on issues related to GST rates, exemptions, thresholds, and tax laws✓ Correct Answer
C. To adjudicate financial disputes between the Reserve Bank of India and commercial scheduled banks
D. To fix the annual direct tax slabs and corporate tax rates for the Union Budget
💡 Solution & Explanation
Article 279A establishes the Goods and Services Tax Council as a federal body tasked with making recommendations to the Union and State Governments regarding tax rates, exemptions, thresholds, and administrative procedures. Other choices incorrectly assign auditing duties or direct tax regulation to the council. The council functions with the Union Finance Minister acting as chairperson and state representatives as members.
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