Consider the following statements regarding the quot quot Goods and Services Tax Network GSTN quot q...........

Economic Affairs Tax System

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Consider the following statements regarding the ""Goods and Services Tax Network (GSTN)""

1 It is a Government organization under Ministry of Finance.

2 It provides IT infrastructure and services for the implementation of GST.

Select the correct answer using the code given below:

1 only

2 only

Both 1 & 2

Neither 1 nor 2

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Explanation:

Goods and Services Tax Network (GSTN) is a not for non govt organized regd. under comapnies act. The Government of India and all States together hold 49%. Balance 51% shares is with non-Government financial institutions. The Company has been set up primarily to provide IT infrastructure and services to the Central and State Governments, tax payers and other stakeholders for implementation of the Goods and Services Tax (GST).