https://www.taxtmi.com/circulars?id=66739 Securities, including shares, are neither goods nor services; mere holding, purchase or sale of shares by a holding company does not, by itself, constitute a supply. A classificatory service code for holding companies is not conclusive; GST applies only if there is a supply as defined by law. Therefore, holding shares in a subsidiary cannot be treated as a supply of services by the holding company to the subsidiary and is not taxable. The CBIC clarification is applied mutatis mutandis under the Goa GST Act and stakeholders should publicize and report implementation difficulties. en-us Fri, 04 Aug 2023 00:00:00 +0530 Mon, 14 Aug 2023 18:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=66739 Securities, including shares, are neither goods nor services; mere holding, purchase or sale of shares by a holding company does not, by itself, constitute a supply. A classificatory service code for holding companies is not conclusive; GST applies only if there is a supply as defined by law. Therefore, holding shares in a subsidiary cannot be treated as a supply of services by the holding company to the subsidiary and is not taxable. The CBIC clarification is applied mutatis mutandis under the Goa GST Act and stakeholders should publicize and report implementation difficulties. Circulars GST - States Fri, 04 Aug 2023 00:00:00 +0530 https://www.taxtmi.com/circulars?id=66739