The transferees are governments of Rajasthan, Sikkim, Karnataka, Andhra Pradesh, Meghalaya, Bihar, Nagaland, Himachal Pradesh, Puducherry, Mizoram, Uttarakhand, Haryana and Assam.
GSTN is a non-profit organisation for facilitating the collection of Goods and Services Tax (GST). The GST Council in its 27th meeting on May 4 last year decided to convert GSTN into a 100 per cent government-owned entity by transferring 51 per cent equity shares held by non-government institutions to the Centre and states equally.
On September 26 last year, the Union Cabinet approved the proposal. By this year-end, all formalities including the transfer of consideration by various transferees will be complete, the bank said in a statement.
The consolidated operating revenues of GSTN for 2015-16, 2016-17 and 2017-18 were Rs 19.6 crore, Rs 8.38 crore and Rs 170.02 crore respectively.