https://www.taxtmi.com/article/detailed?id=10285 Revenue notices seek to tax "services of holding equity of subsidiary companies" by relying on a classificatory entry and residual rate notifications, but such entries cannot override statutory definitions: the executive lacks power to deem transactions as services, the revenue must prove that holding shares constitutes a service and a supply under GST, securities are excluded from ordinary goods and services treatment, and the valuation methods adopted by officers are legally inapt. en-us Tue, 22 Feb 2022 09:58:07 +0530 Tue, 22 Feb 2022 09:58:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=10285 Revenue notices seek to tax "services of holding equity of subsidiary companies" by relying on a classificatory entry and residual rate notifications, but such entries cannot override statutory definitions: the executive lacks power to deem transactions as services, the revenue must prove that holding shares constitutes a service and a supply under GST, securities are excluded from ordinary goods and services treatment, and the valuation methods adopted by officers are legally inapt. Articles Goods and Services Tax - GST Tue, 22 Feb 2022 09:58:07 +0530 https://www.taxtmi.com/article/detailed?id=10285