Law making power on GST

Q.  Which of the following is/are true?

1) Both the State and Centre will have power to make laws on taxation of goods and services.
2) Parliament’s law will not override a state law on GST.
- Published on 04 Aug 16

a. Only 1
b. Only 2
c. Both 1 and 2
d. Neither 1 nor 2

ANSWER: Only 1
 
  • Both Parliament, state Houses will have the power to make laws on the taxation of goods and services.
  • Parliament’s law will not override a state law on GST
  • Exclusive power to Centre to levy, collect GST in the course of interstate trade or commerce, or imports. This will be known as Integrated GST (IGST)
  • Central law will prescribe manner of sharing of IGST between Centre and states, based on GST Council’s views.
  • Alcoholic liquor for human consumption and Petroleum crude, high speed diesel, motor spirit (petrol), natural gas and aviation turbine fuel - excluded from GST purview until GST Council decides.

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