Valuation of related party corporate guarantees treated as deemed value or actual consideration, whichever is higher. Amendments revise valuation, procedural, form and enrolment rules under the Chhattisgarh GST Rules, 2017. A new rule deems the value of services where a supplier provides a corporate guarantee to a related person to be a specified deemed value or the actual consideration, whichever is higher. Procedural language is changed from issuing an 'order' to issuing an 'intimation', time limits of one year are inserted for certain orders, registration forms are updated to include One Person Company, REG 08 is replaced to standardise cancellation procedures, GSTR 8 ledger entries are restructured, PCT 01 enrolment categories expanded, and DRC 22 is limited by issuance of DRC 23 or one year expiry.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Valuation of related party corporate guarantees treated as deemed value or actual consideration, whichever is higher.
Amendments revise valuation, procedural, form and enrolment rules under the Chhattisgarh GST Rules, 2017. A new rule deems the value of services where a supplier provides a corporate guarantee to a related person to be a specified deemed value or the actual consideration, whichever is higher. Procedural language is changed from issuing an "order" to issuing an "intimation", time limits of one year are inserted for certain orders, registration forms are updated to include One Person Company, REG 08 is replaced to standardise cancellation procedures, GSTR 8 ledger entries are restructured, PCT 01 enrolment categories expanded, and DRC 22 is limited by issuance of DRC 23 or one year expiry.
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