FinMin examining prospect of converting GSTN to govt company
Finance Minister Arun Jaitley had earlier this month asked Finance Secretary Hasmukh Adhia to "examine the possibility" of converting GSTN into a majority government company or a 100 per cent government company. GSTN provides the IT backbone for the new indirect tax regime
The government stake in GSTN was initially kept at 49 per cent and incorporated as a private company to "allow adequate flexibility and freedom" to "ensure timely implementation of the IT infrastructure" prior to the GST roll out. Image source: PTI