Current account treatment of overseas tournament services removed most FEMA findings, but excess EEFC remittance and delayed repatriation remained bre...
Modification of bail conditions remains available through inherent jurisdiction where onerous deposits undermine justice and cannot recover disputed d...
Merchant banker regulation consolidates registration, governance, capital, reporting, outsourcing and investor-protection requirements under an update...
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.
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