April 12, 2012 5:24 PM

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Cabinet approves proposal to set up a Special Purpose Vehicle namely GSTN<br/>

The cabinet has approved a proposal to set up a Special Purpose Vehicle namely Goods and Services Tax Network (GSTN). Mr Sibal said this will create enabling environment for smooth introduction of goods and services tax. The GSTN will implement common PAN-based registration, returns filing and payments processing for all States on a shared platform.In a major boost to develop North Eastern region, the Cabinet has approved the initiation of the project entitled Development of North Eastern Region by enhancing training and education capacity in the information, electronics and communication technologies area. Mr Sibal said 388 crore rupees has been allocated for this project. Our correspondent reports, the project would benefit student community.

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