You may have come across various news items from time to time, hinting at GST Council meetings that take place in India. It’s possible that, like most people, you might not have paid close attention to these meetings or the GST Council. However, since the Goods and Services Tax (GST) is an indirect tax that every consumer pays, it helps to know the finer details of the body and the hierarchy that governs this tax system.

What is the GST Council and What are GST Council Meetings?

The GST Council is a body constituted in India as per Article 279A (1) of the amended Constitution. The Council consists of the following members:

• The Union Finance Minister as the Chairperson of the Council
• The Union Minister of State, in charge of Revenue, Ministry of Finance
• One minister (who is in charge of finance or taxation or as nominated) from each state in India

GST Council meetings are formal gatherings of the members of the GST Council to discuss various matters related to the Goods and Services Tax (GST) regime. According to the procedure and conduct of business regulations of the Council, GST Council meetings must be held at least once every quarter in a financial year. So far, there have been 49 GST Council meetings, with the latest one having been convened on 18 February 2023.

What Does the GST Council Do?

The GST Council was created to offer recommendations to the Center and the state governments on the Goods and Services Tax regime matters. This includes recommendations about which goods and services may be subject to GST, the rates of GST on various goods and services, and the exemptions offered under the regime.

Here is a closer look at what the GST Council does.

• Making recommendations and suggestions about the principles of levying GST and the general GST model
• Offering recommendations about the services and goods that will be subject to GST and those that will be exempt
• Settling disputes related to GST matters between the Center and one or more state governments or between two or more state governments
• Offering suggestions on any other matters related to GST

Keep an Eye on the Taxes You Pay

Now that you know what the GST Council is and what it does, you can better understand the tax structure in India. The GST council indirectly impacts taxes since this body recommends rates and exemptions. That said, irrespective of the prevailing GST rates, you must factor in the GST aspect when preparing your monthly budget or monitoring your spending habits.

Ask.Fi can help you with it. You can use this money management platform to monitor and analyse your expenses as per different categories — including food, entertainment and even taxes.

Frequently Asked Questions

1. Who bears the cost of managing the GST Council Secretariat?

The responsibility of shouldering the costs of managing the GST Council Secretariat rests with the central government. The Union Cabinet has allocated funds to meet the recurring and non-recurring expenses of the GST Council Secretariat.

2. What is the GST Council Secretariat?

The GST Council Secretariat is a body created to manage the functioning of the GST Council. It consists of members from the central and state governments, taken on a deputation basis.