Meaning

 Goods and Services Tax Network 📡 (GSTN)  has been registered under section 25 of the Companies Act,  1956 (not for profit)  as Non-government,  private limited company.  It was incorporated on 28th March,  2013.

 The Government of India holds 24.5% equity in GSTN and all states of the Indian Union, including NTC of Delhi and Puducherry, and Empowered Committee of State Finance Ministers (EC),  together hold another 24.5% balance 51% equity is held by ICICI Bank, HDFC Bank, HDFC limited, LIC Housing Finance  National Stock Exchange strategic Investment Corporation Ltd. 

 GSTN  has been set primarily to provide IT infrastructure and services to the Central and State governments, tax payers and other stakeholders of the implementation of the GST in India. 

 The strategic control over GSTN is with the government, given the sensitivity of the role of GSTN and information that will be available with it. The strategic control of the government over GSTN is ensured through measure, such as, composition of the board,  mechanism of special resolution and shareholders agreement, induction of government offices on the deputation and agreement between GSTN and the governments. 

FUNCTION OF GST NETWORK


The functions of GSTN would,  inter alia,  include :
  1. Facilitating registration;
  2. Forwarding the return to Central and State authorities;
  3. Computation and settlement of IGST;
  4. Matching of tax payment details with banking network;
  5. Providing various MISS reports to the Central and the State government based on tax payer return information;
  6. Providing analysis of tax paye's profile; and
  7. Running the matching engine for matching,  reversal and reclaim of the input tax credit. 
GSTN is developing a common GST portal and application for registration,  payment,  return and MISS reports.