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

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.... CCST's Ref. CIRCULAR Computer No: 2148254 File No: REV03-12039(31)/60/2023-COMM, Date. 20/07/2023 Sub : Clarification on taxability of shares held in a subsidiary company by the holding company -Reg. Ref : Circular No.196/08/2023-GST, dated 17.07.2023 issued by the Government of India, Ministry of Finance, Department of Revenue, Central Board of Indirect Taxes and Customs. Representatio....

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....olding shares by a holding company of the subsidiary company will be treated as a supply of service or not and whether the same will attract GST or not. Securities are considered neither goods nor services in terms of definition of goods under clause (52) of section 2 of APGST Act and the definition of services under clause (102) of the said section. Further, securities include 'shares' as per ....