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Conversion of GSTN into Government entity
September 28 , 2018
2255 days
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- The Union Cabinet has approved conversion of Goods and Services Tax Network (GSTN) into government-owned company.
- The government will now own 100 per cent of the IT backbone to the new indirect tax regime.
- Currently, the Centre and states together hold 49 % stake in GSTN. The remaining 51 % is held by 5 private financial institutions.
- Earlier in May 2018, GST Council had agreed to make GSTN a government company with Centre owning 50 % stake and states together holding the remaining 50 %.
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