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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Assam GST Act: Shares Held by Holding Company in Subsidiary Not Subject to GST, Not Considered Services.</h1> The circular issued by the Principal Commissioner of State Tax, Assam, clarifies the taxability of shares held by a holding company in its subsidiary under the Assam GST Act. It states that securities, including shares, are neither goods nor services as per the definitions in the Act. Consequently, the holding of shares by a holding company in a subsidiary does not constitute a supply of services and is not subject to GST. The circular emphasizes that for a transaction to be considered a supply of services, there must be a clear supply as defined under the Act.
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