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The lesson notes that a GST Council has been formulated under the GST law of indirect taxes to advise on rates and other matters. From which two levels of government does the Council draw representatives?
Answer & Solution
Correct answer: C.
1. The GST Council is formulated under the GST law for indirect taxes.
2. It consists of representatives from the Centre as well as the States.
3. The Council recommends rates, composition scheme, exemption schemes and procedures to the Union and the States.
4. It is not a Centre-only or State-only body; the RBI-nominee composition is not the lesson's framing.
_Source: ICSI CS Executive Paper 4 (Tax Laws) — Lesson 1: Direct Taxes — At a Glance, pp. 10-22._
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