Valuation of corporate guarantee services: GST assessed on an annual percentage of the guarantee or the actual consideration. Supply of service of providing corporate guarantee between related persons is taxable; valuation for guarantees issued or renewed on or after the effective date is governed by Rule 28(2) and is the higher of one per cent of the amount guaranteed per annum (pro rata for sub year periods) multiplied by the number of years or the actual consideration. Multiple co guarantors pay on aggregate consideration if higher, otherwise proportionately on one per cent of their guaranteed share. Domestic intra group guarantees are forward charged; overseas guarantors attract reverse charge. Exports are excluded from Rule 28(2).