Patent-settlement expenditure treated as commercially expedient revenue outlay, with foreign-law restrictions inapplicable before the prospective amen...
International transaction benchmarking restricts transfer pricing adjustments to associated-enterprise dealings, while functional comparability govern...
Joint development agreements defer taxable transfer where possession lacks part performance, while completed flats determine consideration and exempti...
Passenger baggage re-export requires true declaration and cannot be granted indirectly through discretionary redemption of undeclared prohibited goods...
Sub-rule (2) of Rule 28 of CGST Rules provides for valuation of supply of services of providing corporate guarantee between related persons. It applies to guarantees issued/renewed on or after 26.10.2023. Value is 1% of guaranteed amount per annum or actual consideration, whichever is higher. ITC is available irrespective of loan disbursal. No GST on takeover of existing loans unless fresh guarantee. For co-guarantors, value is sum of consideration or proportionate 1% of respective guaranteed amounts. Domestic guarantees under forward charge, overseas under reverse charge. Second proviso of sub-rule (1) applies. Export of such services excluded.
Sub-rule (2) of Rule 28 of CGST Rules provides for valuation of supply of services of providing corporate guarantee between related persons. It applies to guarantees issued/renewed on or after 26.10.2023. Value is 1% of guaranteed amount per annum or actual consideration, whichever is higher. ITC is available irrespective of loan disbursal. No GST on takeover of existing loans unless fresh guarantee. For co-guarantors, value is sum of consideration or proportionate 1% of respective guaranteed amounts. Domestic guarantees under forward charge, overseas under reverse charge. Second proviso of sub-rule (1) applies. Export of such services excluded.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4801
Join Channel
TaxTMI 
