Clarification on taxability of shares held in a subsidiary company by the holding company.

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....ly, 2023. Subject: Clarification on taxability of shares held in a subsidiary company by the holding company. No. CT/GST-15/2017/843.- Representations have been received from the trade and field formations seeking clarification on certain issues whether the holding of shares in a subsidiary company by the holding company will be treated as 'supply of service' under GST and will be ta....

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....ds nor services in terms of definition of goods under clause (52) of section 2 of Assam GST Act and the definition of services under clause (102) of the said section. Further, securities include 'shares' as per definition of securities under clause (h) of section 2 of Securities Contracts (Regulation) Act, 1956. This implies that the securities held by the holding company in the subsidi....