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of <h1>Karnataka Clarifies: Holding Company Shares in Subsidiaries Not Subject to GST Under Karnataka GST Act 2017.</h1> The Government of Karnataka's Department of Commercial Taxes issued a circular clarifying the taxability of shares held by a holding company in its subsidiary. It states that such shares are classified as securities, which are neither goods nor services under the Karnataka Goods and Services Tax Act, 2017. Consequently, the holding of shares is not considered a supply of services and does not attract GST. The circular emphasizes that for an activity to be taxed as a service, it must meet the supply criteria under the Act, which is not applicable in this context.
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