<P> The GSTN software is developed by Infosys Technologies and the Information Technology network that provides the computing resources is maintained by the NIC . "Goods and Services Tax" Network (GSTN) is a nonprofit organisation formed for creating a sophisticated network, accessible to stakeholders, government and taxpayers to access information from a single source (portal). The portal is accessible to the Tax authorities for tracking down every transaction, while taxpayers have the ability of connect for their tax returns . </P> <P> The GSTN's authorised capital is ₹ 10 crore (US $1.4 million) in which initially the Central Government held 24.5 percent of shares while the state government held 24.5 percent . The remaining 51 percent were held by non-Government financial institutions, HDFC and HDFC Bank hold 20%, ICICI Bank holds 10%, NSE Strategic Investment holds 10% and LIC Housing Finance holds 11% . </P> <P> However, later it was made a wholly owned government company having equal shares of state and central government. (1) </P> <P> Technicalities of GST implementation in India have been criticized by global financial institutions, sections of Indian media and opposition political parties in India . World Bank's 2018 version of India Development Update described India's version of GST as too complex, noticing various flaws compared to GST systems prevalent in other countries; most significantly, the second highest tax rate among a sample of 115 countries at 28% . The report further highlighted that most countries in the world have a single rate of GST; 49 countries have a single rate, 28 have two rates, and only 5 countries including India have four or more rates . </P>

India's gst is based on which country