https://www.taxtmi.com/highlights?id=74570 Supply of Services - activity of holding of shares of subsidiary company by holding company - During the proceedings, the Central and State Governments issued clarifications stating that merely holding shares in a subsidiary company by a holding company should not be treated as a "supply of service" under GST. Based on these clarifications, the petitioner's counsel submitted that the activity of holding shares in a subsidiary by a holding company cannot be construed as "supply of service" as per GST law. - Accordingly, the High court held that the impugned order was illegal and arbitrary, as it wrongly classified holding shares in a subsidiary as "supply of service". en-us Thu, 01 Feb 2024 07:45:48 +0530 Thu, 01 Feb 2024 07:45:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=74570 Supply of Services - activity of holding of shares of subsidiary company by holding company - During the proceedings, the Central and State Governments issued clarifications stating that merely holding shares in a subsidiary company by a holding company should not be treated as a "supply of service" under GST. Based on these clarifications, the petitioner's counsel submitted that the activity of holding shares in a subsidiary by a holding company cannot be construed as "supply of service" as per GST law. - Accordingly, the High court held that the impugned order was illegal and arbitrary, as it wrongly classified holding shares in a subsidiary as "supply of service". Highlights GST Thu, 01 Feb 2024 07:45:48 +0530 https://www.taxtmi.com/highlights?id=74570