The GST Council has laid to the rest the thorny issue of taxing shares held by holding companies in their subsidiaries.
The Council, at its meeting on Tuesday, clarified that mere holding of these shares cannot be taxed under the goods and services tax (GST) as these are not supply of services.
The clarification came amid GST officers sending notices to both Indian and foreign companies, demanding tax on share capital held in their subsidiaries at 18 per cent
Source a2ztaxcorp
Latest Posts in "India"
- BJD Urges Odisha Government to Cut VAT on Petrol, Diesel Amid Global Fuel Crisis Concerns
- Strategic Management of GST Credit Notes: Compliance, Timing, and Tax Implications for Finance Leaders
- Himachal Pradesh Assembly Approves VAT Bill, Permits Up to ₹5 Cess on Petrol, Diesel
- Karnataka AAR Allows ITC on Ancillary Expenses for Used Vehicles Sold Under Margin Scheme
- ISD Credit Distribution Allowed Only After ITC Eligibility Under Section 16, Rules Madras High Court
