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of <h1>GST Circular: Shares in Subsidiaries Not Taxed as Services; Clarifies Tax Treatment Under CGST Act.</h1> The circular clarifies the taxability of shares held by a holding company in its subsidiary under the GST framework. It states that such shares are considered securities, which are neither goods nor services under the CGST Act. Therefore, holding shares in a subsidiary does not constitute a supply of services and is not subject to GST. The circular aims to ensure uniformity in the application of these provisions and invites stakeholders to report any implementation difficulties to the Commissioner of State Tax, Maharashtra.
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