Misplaced logic: Protecting GSTN data needs more than a change in ownership

GSTN handles massive amounts of data; by now, over 10 million businesses have already registered on the GSTN portal

The finance ministry wants to convert the Goods and Services Tax Network (GSTN), the not-for-profit organisation that provides the technological backbone to the GST, into a government-owned company. In fact, according to media reports, even a 100 per cent government stake has not been ruled out. At present, the government holds a 49 per cent stake — the Centre and states share 24.5 per cent each — and the balance 51 per cent is held by five non-government institutions — 11 per cent by LIC Housing Finance and 10 per cent each by HDFC, HDFC Bank, ICICI Bank and NSE