GST Network is now a Government Owned Company. GST Network which is primarily responsible for maintaining the technical section of GST. Specifying more clearly these technical sections include GST software and systems. However now 51% stakes of this company which is initially under control by private firms like HDFC, LIC Housing Finance, ICICI Bank etc takeover by Indian Government.
Finance Minister Arun Jaitley earlier says that they are looking forward to make GST Network a Government Regulating company by creating a 50/50 partnership. Cleaning the insight, till now 51% stakes of this company is manages by private firms which we mention above. However, Company Directors and Government officials manage the rest 49% stakes of the Company. But now GST Network with the help of Government acquires 51% stake from the private firms.
GST Network got the suffix of private ltd. back in 2013. It registers as a nonprofit making company. Now it seems like this company solves the wire of problems of have many pieces an authority can eat.
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