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This circular clarifies various issues related to taxability and valuation of supply of services involving corporate guarantees provided between related persons. It covers applicability of Rule 28(2) of CGST Rules retrospectively, valuation methodologies based on amount guaranteed or actual consideration, treatment of partial loan disbursals, takeovers, co-guarantors, reverse charge mechanism for foreign guarantors, periodicity of valuation, benefit of value declared in invoice, and exclusion of exports from Rule 28(2). The circular aims to ensure uniform implementation across field formations.
This circular clarifies various issues related to taxability and valuation of supply of services involving corporate guarantees provided between related persons. It covers applicability of Rule 28(2) of CGST Rules retrospectively, valuation methodologies based on amount guaranteed or actual consideration, treatment of partial loan disbursals, takeovers, co-guarantors, reverse charge mechanism for foreign guarantors, periodicity of valuation, benefit of value declared in invoice, and exclusion of exports from Rule 28(2). The circular aims to ensure uniform implementation across field formations.
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