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of <h1>Haryana Govt Clarifies: Holding Company Shares in Subsidiaries Not Taxable Under HGST Act, Not a Supply of Services.</h1> The circular issued by the Haryana Government's Excise and Taxation Department clarifies the taxability of shares held by a holding company in its subsidiary under the Haryana Goods and Services Tax Act, 2017. It states that such shares are classified as securities, which are neither goods nor services as per the HGST Act. Consequently, holding shares does not constitute a supply of services, and thus, is not subject to GST. The circular emphasizes that for a transaction to be considered a supply of services, it must meet the criteria defined under section 7 of the HGST Act.
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