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The GST Council, in its recent meetings (2023-24), has focused on rate rationalization by reducing the number of tax slabs and merging certain categories to simplify compliance, while maintaining the weighted voting mechanism where States collectively hold ______ of total votes.
- one-half
- two-thirds
- three-fourths
- one-third
Answer: two-thirds
GST Council recent developments (2023-24): (a) Rate rationalization: Efforts to reduce four slabs (5%, 12%, 18%, 28%) to three by merging 12% and 18% categories, (b) Compliance simplification: E-invoicing expansion, return filing improvements, dispute resolution mechanisms, (c) Weighted voting: Article 279A(9) - decisions by 3/4 majority: Union Government has 1/3 vote weight, all State Governments collectively have 2/3 vote weight, (d) Challenges: Union-State disagreements on compensation continuation, rate cuts impact on revenue, compliance burden on MSMEs, (e) Cooperative federalism: Consensus-building essential; illustrates shared sovereignty in fiscal policy for 'One Nation, One Tax'. Illustrates fiscal federalism in practice: technical mediation of political claims through institutionalized dialogue.