Which among the following regarding GST is correct?

Options

A. GST network was formed under Companies Act
B. The 100th Amendment introduced GST in the country
C. Centre holds 100 per cent stake in GST network
D. GST council is a statutory body

Answer

A

Explanation

Goods & Services Tax Council is a constitutional body for making recommendations to the Union and State Government on issues related to Goods and Service Tax. The GST in the country was introduced through the 101st amendment. As of October 2019, the Centre will own a 50 per cent stake in the GST Network and the remainder will be held by the states on a pro-rata basis in the new structure