9911796707
TMI BlogClarification of taxability of share capital held in subsidiary company by the parent company.X X X X Extracts X X X X X X X X Extracts X X X X ..... ny by the parent company. Ref.: Circular No. 196/08/2023-GST dated 17 th July, 2023 issued under Central Goods and Services Tax Act, 2017 by the GST Policy Wing, Central Board of Indirect Taxes and Customs, Department of Revenue, Ministry of Finance, GOI, New Delhi. Circular (No. 05/2023-24-GST) The Central Board of Indirect Taxes and Customs (CBIC) has issued the above refe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... epartment of Revenue) Central Board of Indirect Taxes and Customs GST Policy Wing **** New Delhi, Dated the 17th July, 2023 To, The Principal Chief Commissioners/Chief Commissioners/Principal Commissioners/Commissioners of Central Tax (All) The Principal Directors General/ Directors General (All) Madam/Sir, Subject: Clarification on ta ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... fication Taxability of share capital held in subsidiary company by the parent company 1. Whether the activity of holding 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 se ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e is a SAC entry 997171 in the scheme of classification of services mentioning; the services provided by holding companies, i.e. holding securities of (or other equity interests in) companies and enterprises for the purpose of owning a controlling interest. , unless there is a supply of services by the holding company to the subsidiary company in accordance with section 7 of CGST Act. ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
