Hello and welcome to exampundit. So, today we are sharing an Important PDF on Goods and Services Tax Network or GSTN for Bank PO and Clerk Banking Awareness. This will help you in all the upcoming Bank exams. Download the PDF from below!
Goods and Services Tax Network GSTN
Goods and Services Tax Network (GSTN) is a Section 8 (under new companies Act, not for profit companies are governed under section 8), non-Government, private limited company.
GSTN was incorporated on March 28, 2013.
The GSTN’s authorised capital is ₹10 crore (US$1.4 million) in which initially the Central Government held 24.5 percent of shares while the state government held 24.5 percent.
So, the remaining 51 percent were held by non-Government financial institutions. HDFC and HDFC Bank hold 20%, ICICI Bank holds 10%, NSE Strategic Investment holds 10% and LIC Housing Finance holds 11%.
Central Government while approving creation of GSTN also approved a non-recurring grant of Rs 315 Crores.
Similarly, the GSTN software is developed by Infosys Technologies and the Information Technology network that provides the computing resources is maintained by the NIC.
Key People in GSTN
- A B Pandey – Chairman
- Prakash Kumar – CEO
Features of GSTN
- Provide common and shared IT infrastructure and services to the Central and State Governments, Tax Payers and other stakeholders for implementation of the Goods & Services Tax (GST).
- To Provide common Registration, Return and Payment services to the Tax payers.
- Partner with other agencies for creating an efficient and user-friendly GST Eco-system.
- Encourage and collaborate with GST Suvidha Providers (GSPs) to roll out GST Applications for providing simplified services to the stakeholders.
- Carry out research, study best practises and provide Training and Consultancy to the Tax authorities and other stakeholders.
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