Government guarantee exemption affirmed for loans to undertakings and PSUs by state and central governments under the tax notification. Guaranteeing loans taken by undertakings or Public Sector Undertakings from banking companies and financial institutions, when provided by Central or State Government to their own undertakings or PSUs, is exempt from GST under the relevant tax rate notification entry; the circular reiterates this exemption per the GST Council recommendation and requests reporting of implementation difficulties to the Commissioner's office.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Government guarantee exemption affirmed for loans to undertakings and PSUs by state and central governments under the tax notification.
Guaranteeing loans taken by undertakings or Public Sector Undertakings from banking companies and financial institutions, when provided by Central or State Government to their own undertakings or PSUs, is exempt from GST under the relevant tax rate notification entry; the circular reiterates this exemption per the GST Council recommendation and requests reporting of implementation difficulties to the Commissioner's office.
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