CBIC Sets 1% GST Valuation Rule for Corporate Guarantees Issued After Oct 26, 2023; Clarifies ITC and Co-guarantor Obligations.
Circulars
GST – States
The CBIC has clarified the following key points regarding taxability and valuation of supply of services of providing corporate guarantee between related persons: Sub-rule (2) of Rule 28 of CGST Rules prescribing 1% valuation applies to corporate guarantees issued/renewed on or after 26.10.2023. For prior periods, valuation to be done as
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