PIB Summaries 24 June 2024

CONTENTS

1. International Hydrographic Organisation
2. GST Council

International Hydrographic Organisation

Context:

On 21 June every year, the International Hydrographic Organisation (IHO) celebrates World Hydrography Day to raise awareness about hydrography.

Relevance:

Facts for Prelims

Overview of the International Hydrographic Organisation (IHO)

Nature and Establishment

• The IHO is an intergovernmental entity dedicated to the surveying and charting of the world’s seas, oceans, and navigable waters.
• Founded in 1921, it facilitates coordination among national hydrographic offices and ensures standardization in nautical charts and documentation.

Functions and Responsibilities

• The organization issues best practice guidelines and maximizes the use of hydrographic survey data.
• It focuses on enhancing hydrographic capabilities within its member states.

Membership and Secretariat

• The IHO currently comprises 100 member countries.
• The Secretariat of the IHO is located in Monaco.

India’s Involvement

• India has been a member of the IHO since 1955.
• The Indian Naval Hydrographic Department (INHD), originally known as the Marine Survey of India, was established in 1874 in Kolkata.
• INHD is responsible for conducting hydrographic surveys and operates a fleet of modern, indigenously built survey ships.

World Hydrography Day

• Celebrated annually on June 21.
• The theme for 2024 is “Hydrographic Information – Enhancing Safety, Efficiency and Sustainability in Marine Activities”.

GST Council

Context:

The GST Council recently announced various recommendations relating to taxation, ITC claims and demand notices.

Relevance:

GS III: Indian Economy

Dimensions of the Article:

1. About GST Council

About GST Council

• 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.
• As per Article 279A (1) of the amended Constitution, the GST Council has to be constituted by the President within 60 days of the commencement of Article 279A.
• The Constitution (One Hundred and Twenty-Second Amendment) Bill, 2016, for the introduction of Goods and Services Tax in the country was introduced in the Parliament and passed by Rajya Sabha on 3rd August 2016 and by Lok Sabha on 8th August 2016.
• GST Council is an apex member committee to modify, reconcile or procure any law or regulation based on the context of goods and services tax in India.
• The GST council is responsible for any revision or enactment of rule or any rate changes of the goods and services in India.
• The council contains the following members:
  • Union Finance Minister (as chairperson)
  • Union Minister of States in charge of revenue or finance (as members)
  • The ministers of states in charge of finance or taxation or other ministers as nominated by each state’s government (as members).

Matters on which GST Council makes recommendations

• Taxes, cesses, and surcharges levied by the Centre, States and local bodies which may be subsumed in the GST;
• Goods and services which may be subjected to or exempted from GST;
• Model GST laws, principles of levy, apportionment of IGST and principles that govern the place of supply;
• Threshold limit of turnover below which goods and services may be exempted from GST;
• Rates including floor rates with bands of GST;
• Special rates to raise additional resources during any natural calamity;
• Special provision with respect to Arunachal Pradesh, Jammu and Kashmir, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim, Tripura, Himachal Pradesh and Uttarakhand;
• Any other matter relating to the goods and services tax, as the Council may decide.