Correct option is B
Statement 1 is incorrect.
The GST Council is actually chaired by the Union Finance Minister, not the Prime Minister. The GST Council is a constitutional body under Article 279A of the Indian Constitution, which makes recommendations to the Union and the States on issues related to GST. The Council is composed of the Union Finance Minister as the Chairperson, the Union Minister of State for Finance as a member, and Ministers of Finance or other nominated ministers from the states as members.
Statement 2 is correct.
GST is a destination-based tax, meaning the tax is collected by the state where the goods or services are consumed, not where they are produced. This system helps in avoiding the cascading effect of taxes and promotes uniformity across states in India.
