"It (GSTN) is already functioning," he told reporters here. Security clearance to GSTN
is a "procedural matter".
"These are all procedural matters, they go on," he said. "That doesn't defer the (GST
It won't derail "the fate of Constitution amendment", he said.
The Centre and states have agreed to roll out the new indirect tax
regime, which will subsume excise, service tax, VAT and other local levies, from July 1.
However, the home ministry has still not given security clearance to GSTN, which is a non-government, private limited company, incorporated on March 28, 2013.
The government of India holds 24.5 per cent equity in GSTN
and all states, including NCT of Delhi and Puducherry, and the Empowered Committee of State Finance Ministers, together hold another 24.5 per cent.
The balance 51 per cent equity is with non-government financial institutions -- HDFC, HDFC Bank, ICICI Bank, NSE Strategic Investment Co and LIC Housing Finance Ltd.
BJP MP Subramanian Swamy has on multiple occasions raised concerns over GSTN's shareholding pattern, saying it might compromise data security.