cost accountant :
(35) “cost accountant” means a cost accountant as defined in clause (c) of sub-section (1) of section 2 of the Cost and Works Accountants Act, 1959;
(36) “Council” means the Goods and Services Tax Council established under article 279A of the Constitution;
GST Council is an authority constituted under the Constitution of India and will be the governing body responsible for the administration of the GST across India. The administrative powers will be vested with this authority for taxing goods and services.
The Council will consist of the Union Finance Minister (as Chairman), the Union Minister ofState in charge of Revenue or Finance, and the Minister in charge of Finance or Taxation, or any other nominated by each State government, thereby ensuring a proper blend of the Central and State ministry.
The GST Council will be the body responsible for the following (primarily):
(a) Administration of the GST laws
(b) Specify the taxes to be levied and collected by the Centre, States and Union Territories under the GST regime
(c) Specify the goods or services or both that will be subjected/ exempted under the GST regime
(d) Specify the GST rates
(e) Specify the threshold limits for registrations and payment of taxes
(f) Apportionment of IGST between Centre and States/ Union Territories
(g) Approval of compensation to be paid to the States (for loss on account of implementation of GST)
(h) Levy of any special rate or rates of tax for a specified period, to raise additional resources during any natural calamity or disaster.
(i) Resolution of disputes arising out of its recommendations
(j) Imposition of additional taxes in times of calamities and disasters