Time-share accommodation classification excludes Club or Association Service where purchasers receive contractual occupancy rights without genuine mem...
CENVAT credit for trading requires reversal, while taxable-service rental credit remains proportionately available and limitation issues await resolut...
Vicarious liability for dishonoured company cheques may extend to non-signatory directors where complaints contain foundational responsibility avermen...
Charitable registration turns on predominant purpose and genuine activities, while incidental fees and related-party rent require supporting adverse m...
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Guarantee commission paid by a State undertaking to the State government for guarantees on bonds falls within the exemption under Entry No. 34A of Notification No. 12/2017-Central Tax (Rate), as amended, and is therefore not subject to GST. The Authority relied on the statutory entry's language and the CBIC clarification (Circular No. 154/10/2021) to construe the scope of exempted services, concluding that consideration received by the State for guaranteeing loans or debentures qualifies for exemption; consequently the commission payable for the guarantees is exempt from GST.
Guarantee commission paid by a State undertaking to the State government for guarantees on bonds falls within the exemption under Entry No. 34A of Notification No. 12/2017-Central Tax (Rate), as amended, and is therefore not subject to GST. The Authority relied on the statutory entry's language and the CBIC clarification (Circular No. 154/10/2021) to construe the scope of exempted services, concluding that consideration received by the State for guaranteeing loans or debentures qualifies for exemption; consequently the commission payable for the guarantees is exempt from GST.
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