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of <h1>Rajasthan Clarifies GST Rules for Corporate Guarantees: Tax and Valuation Changes Effective Post-October 26, 2023.</h1> The circular from the Rajasthan Commercial Taxes Department clarifies the taxability and valuation of corporate guarantees between related parties under GST rules. It states that corporate guarantees issued before October 26, 2023, are taxable, but valuation follows the rules effective at that time. For guarantees issued after this date, the valuation is based on the amended rule 28(2), calculated as one percent of the guaranteed amount annually or the actual consideration, whichever is higher. The circular also specifies that GST is applicable under the forward charge mechanism for domestic guarantees and under the reverse charge for foreign guarantees. It excludes the export of such services from these provisions.
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