The Union Cabinet chaired by the Prime Minister Narendra Modi approved the increase of government ownership in Goods and Services Tax Network (GSTN) and change in the existing structure with the transitional plan.
The government also approved financial assistance of Rs.825 Crore for relining of Sirhind Feeder Canal and relining of Rajasthan Feeder Canal. The twin projects will curb waterlogging in Muktsar, Faridkot, and Ferozepur in Punjab.
What is GSTN?
The GSTN was floated to aid the rollout of the new indirect tax regime. The company will provide information technology support to all stakeholders for the smooth implementation of the new taxation regime across the country and will be the repository of all information related to taxation and entities registered under GST.