The Union Cabinet on Wednesday approved the proposal to convert GST Network (GSTN) into a government-owned company. "Government has decided to convert GSTN, which was collectively owned by Centre, states and some private institutions will now become a wholly government-owned company. The in-principal decision was taken earlier and the Cabinet approved the proposal today," Jaitley said. The GSTN was incorporated as a private limited company on March 28, 2013 under the UPA government. Goods and Services Tax (GST), which subsumed over a dozen local taxes, was rolled out on July 1, 2017.

Source: dna September 26, 2018 09:22 UTC