The GST Council in its 27 meeting held on 4th May, 2018 resolved that GSTN will be converted into a 100% Government-owned entity by transferring 51% equity shares held by the Non-Government Institutions to the Centre and States equally. GSTN has already initiated the process of transfer of 51% equity of the company held by the Non-Government Institutions to the Centre and States equally. The shareholders of GSTN in its Extra- Ordinary General Meeting (EGM) held on 21 June, 2019 has also accorded its approval to the modifications in MOA and AOA and transfer of shares by the Non-Government Institutions to the Centre and States. The Ministry of Corporate Affairs has also accorded its approval to the modified MOA and AOA on 22nd March, 2019 under the provisions of the Companies Act, 2013.
