Union Cabinet has approved a proposal to convert Goods and Services Tax Network (GSTN) into a government-owned company.
About GSTN:
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
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.
Recent decision:
Currently, the Centre and states together hold 49 % stake in the GSTN. The remaining 51 % is held by five private financial institutions.
The restructured GSTN, with 100% government ownership shall have equity structure between the Centre (50%) and the States (50%).
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