https://www.taxtmi.com/circulars?id=66664 The CBIC clarifies that securities, including shares, are neither goods nor services; mere purchase, sale or holding of shares by a holding company does not constitute a taxable supply. A SAC classification alone does not create a service-GST applies only where the transaction satisfies the statutory definition of supply under section 7. Accordingly, holding shares of a subsidiary by the parent company per se is not a supply of services and is not taxable under GST; the circular is applied mutatis mutandis to the Maharashtra SGST framework and field formations are to publicize the position. en-us Fri, 21 Jul 2023 00:00:00 +0530 Tue, 25 Jul 2023 17:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=66664 The CBIC clarifies that securities, including shares, are neither goods nor services; mere purchase, sale or holding of shares by a holding company does not constitute a taxable supply. A SAC classification alone does not create a service-GST applies only where the transaction satisfies the statutory definition of supply under section 7. Accordingly, holding shares of a subsidiary by the parent company per se is not a supply of services and is not taxable under GST; the circular is applied mutatis mutandis to the Maharashtra SGST framework and field formations are to publicize the position. Circulars GST - States Fri, 21 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/circulars?id=66664