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Clarification on taxability of shares held in a subsidiary company by the holding company. - GST - States - TRADE CIRCULAR No. 09/2023Extract ..... upply of service under GST and will be taxed accordingly or whether such transaction is not a supply. 2. In order to clarify the issue and to ensure uniformity in the implementation of the provisions of law across the field formations, the Commissioner, in exercise of his powers conferred by section 168 of the West Bengal Goods and Services Tax Act, 2017 (hereinafter referred to as WBGST Act ), hereby clarifies the issues as under: S. No. Issue Clarification ..... x x x x x Extracts x x x x x Clarification on taxability of shares held in a subsidiary company by the holding company. - GST - States x x x x x Extracts x x x x x ..... under section 7 of WBGST Act. It cannot be said that a service is being provided by the holding company to the subsidiary company, solely on the basis that there 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 co ..... x x x x x Extracts x x x x x Clarification on taxability of shares held in a subsidiary company by the holding company. - GST - States x x x x x Extracts x x x x x
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