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of <h1>Tamil Nadu clarifies GST on personal and corporate guarantees; zero value for unpaid personal services, Rule 28 for corporate.</h1> The Tamil Nadu Commercial Taxes Department issued a circular clarifying the taxability of personal and corporate guarantees under GST. Personal guarantees provided by directors to banks for company credit facilities are considered a supply of service, even without consideration, but the taxable value is zero if no remuneration is paid. Corporate guarantees by related entities, such as holding companies for subsidiaries, are also treated as a supply of service. The taxable value for these corporate guarantees is determined under rule 28 of the TNGST Rules, with recent amendments ensuring uniform valuation practices across related parties.
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