<div style="color: #222222; font-family: arial, sans-serif; font-size: 12.8px;"><span style="font-size: 12.8px;">The 27th meeting of the GST Council will take place today to consider the introduction of simplified tax return form, incentives for digital payments and a proposal to convert GST Network into a government company.</span></div>''<div style="color: #222222; font-family: arial, sans-serif; font-size: 12.8px;"><br />''</div>''<div style="color: #222222; font-family: arial, sans-serif; font-size: 12.8px;">The council chaired by Union Finance Minister and comprising state finance ministers, will interact through video conferencing.</div>''<div style="color: #222222; font-family: arial, sans-serif; font-size: 12.8px;"><br />''</div>''<div style="color: #222222; font-family: arial, sans-serif; font-size: 12.8px;">The meeting comes at a time when Goods and Services Tax (GST) collections achieved its record high by exceeding one lakh crore rupees milestone in April.</div>''<div style="color: #222222; font-family: arial, sans-serif; font-size: 12.8px;"><br />''</div>''<div style="color: #222222; font-family: arial, sans-serif; font-size: 12.8px;">Sources said, Sushil Modi-led Group of Ministers (GoM) will put the three models of new simplified return form for discussions before the council.&nbsp;</div>''<div style="color: #222222; font-family: arial, sans-serif; font-size: 12.8px;"><br />''</div>''<div style="color: #222222; font-family: arial, sans-serif; font-size: 12.8px;">The Council will also consider converting GSTN into a government-owned company with the equal holding of states and the Centre.&nbsp;</div>''<div style="color: #222222; font-family: arial, sans-serif; font-size: 12.8px;"><br />''</div>''<div style="color: #222222; font-family: arial, sans-serif; font-size: 12.8px;">Currently, five private financial institutions hold 51 per cent stake in GSTN, which was incorporated on March 28, 2013 during the UPA government. The remaining 49 per cent stake is with the Centre and states.</div>''<div style="color: #222222; font-family: arial, sans-serif; font-size: 12.8px;"><br />''</div>''<div style="color: #222222; font-family: arial, sans-serif; font-size: 12.8px;">Mr Jaitley had, earlier this month, asked Finance Secretary Hasmukh Adhia to "examine the possibility" of converting GSTN into a majority government company or a 100 per cent government company.&nbsp;</div>''<div class="yj6qo" style="color: #222222; font-family: arial, sans-serif; font-size: 12.8px;"></div>