Union Cabinet approved a Proposal to set up SPV for Goods and Services Tax Network (GSTN)

Apr 13, 2012, 15:07 IST

Economy Current Affairs 2012. Union Cabinet approved a proposal to set up a Special Purpose Vehicle (SPV) for Goods and Services Tax Network (GSTN)

The Union Cabinet on 12 April 2012 approved a proposal to set up a Special Purpose Vehicle (SPV) for Goods and Services Tax Network (GSTN) to help facilitate the smooth introduction of the new indirect tax regime.


GSTN SPV is to be incorporated as Section 25 not-for-profit private limited company in which strategic control would be held by the Centre. It will provide IT infrastructure and services to various stakeholders including the Centre and states.


The SPV will have an equity capital of Rs 10 crore, with both the Centre and states having stakes of 24.5 per cent each. Non government institutions would hold 51 per cent equity.

Jagranjosh
Jagranjosh

Education Desk

Your career begins here! At Jagranjosh.com, our vision is to enable the youth to make informed life decisions, and our mission is to create credible and actionable content that answers questions or solves problems for India’s share of Next Billion Users. As India’s leading education and career guidance platform, we connect the dots for students, guiding them through every step of their journey—from excelling in school exams, board exams, and entrance tests to securing competitive jobs and building essential skills for their profession. With our deep expertise in exams and education, along with accurate information, expert insights, and interactive tools, we bridge the gap between education and opportunity, empowering students to confidently achieve their goals.

... Read More
Get here latest daily, weekly and monthly Current Affairs and GK in English and Hindi for UPSC, SSC, Banking, Railway, Defence and exams. Download Jagran Josh Current Affairs App.

Take Weekly Tests on app for exam prep and compete with others. Download Current Affairs and GK app

AndroidIOS

Trending

Latest Education News