GST Taxation scheme will stir some of the names under its implication, such as Apex indirect tax body CBEC will be named as the Central Board of Indirect Tax (CBIT) as soon as the GST strikes on 1st April next year. Governed by the secretary-level officer, exemptions, and threshold which are implied by CBIT now will be set accordingly by GST council being chaired by Union Finance Minister and has state finance ministers as its members.