Consider the following statements about GST Council:

  1. GST Council will be headed by Prime Minister
  2. Its main function will be to decide on the tax rate, exemptions and threshold limit for new indirect tax

Which of the above statements is/are correct?

Answer: [B] 2 Only

First statement is incorrect because GST Council will be headed by the Union Finance Minister and not by Prime Minister.

This question is a part of GKToday's Integrated IAS General Studies Module