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of <h1>Delhi Tax Circular: Holding Company Shares in Subsidiary Not a GST Supply Under DGST Act 2017, Section 7.</h1> The circular issued by the Department of Trade & Taxes, Delhi, clarifies the taxability of shares held by a holding company in its subsidiary under the Delhi Goods and Services Tax Act, 2017. It states that holding shares does not constitute a 'supply of service' as securities, including shares, are neither goods nor services per the Act's definitions. Therefore, such activities are not subject to GST. The circular emphasizes that for a transaction to be considered a supply of services, it must meet the criteria outlined in section 7 of the DGST Act. Any issues with the implementation of this circular should be reported to the Principal Commissioner.
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