GST Council approves ownership change of GST Network to convert it into govt holding

The Goods and Services Tax (GST) Council has approved ownership change of GST Network structure and now it will be converted into a government holding. 

Briefing media after chairing the 27th meeting of the council through video-conferencing yesterday, Finance Minister Arun Jaitley said that the government will acquire the 51 percent stake held by private entities. 

He said subsequently the Central and the state governments will hold a 50 percent stake each in the entity. 

The government has



also decided to constitute two Group of Ministers (GoMs) to consider the issues related to the imposition of Cess on Sugar and incentivising digital payments under the GST regime.

The Finance Ministry in a statement said, the GoMs will submit their reports within 15 days.

The GoM related to Cess on Sugar will be headed by Assam Finance Minister Himanta Biswa Sarma. The other GoM considering on digital payments will be headed by Bihar's Deputy Chief Minister Sushil Kumar Modi.