GOODS AND SERVICES TAX NETWORK (GSTN)

About: 

• GSTN has been jointly registered by the Central and State Governments as a not-for-profit Company under Section 8 of the Companies act, 2013 (under new companies Act, not for profit companies are governed under section 8).
  
  
• It was incorporated in 2013.
  
  
• It has been set up primarily to provide IT infrastructure and services to the Central and State Governments, tax payers and other stakeholders for implementation of the GST.
  
  

Ownership:

• In September 2018, Union Cabinet approved a proposal to convert Goods and Services Tax Network (GSTN) into a government-owned company.
  
  
• Currently, the Centre and states together hold 49 % stake in the GSTN. Balance 51% equity is with non-Government financial institutions.
  
  
• The restructured GSTN, with 100% government ownership shall have equity structure between the Centre (50%) and the States (50%).