Status of GST council:
GST council stands for Goods and Services Tax council. It is a constitutional body under article 279 A which is designed to give recommendations to the Union and state government on issues related to GST. It was established by the 101 constitutional amendment act. It came into existence in 2016.
Composition of GST council:
Chairman: Union Finance Minister
the Union Minister of State in charge of Revenue or Finance
the Minister in charge of Finance or Taxation or any other
Minister nominated by each State Government
Quorum: 50% of the strength of the GSTc council constitutes the quorum. Quorum is the strength of a council which is mandatory to hold a meeting.
Decisions in the GST council are taken by a majority of not less than 3/4th of the weighted votes of the members present and voting.
Central government members have one-third weightage of total vote cast.
Weightage of state government members together have two-third weightage.
News: there is a petition to wave off the GST on oxygen concentrators in the Court. Government has already decreased the GST to 12% on oxygen concentrators.