https://www.taxtmi.com/article/detailed?id=11550 Issuing a corporate guarantee without receiving any commission, fees or interest does not attract service tax because the BFOS definition is exhaustive and applies only to entities engaged in financing or otherwise falling within specified categories; absent consideration and without being a banking/financial entity, no service tax liability arises, and the demand for tax on guarantees given for associates was set aside. en-us Thu, 29 Jun 2023 08:31:40 +0530 Thu, 29 Jun 2023 08:31:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=11550 Issuing a corporate guarantee without receiving any commission, fees or interest does not attract service tax because the BFOS definition is exhaustive and applies only to entities engaged in financing or otherwise falling within specified categories; absent consideration and without being a banking/financial entity, no service tax liability arises, and the demand for tax on guarantees given for associates was set aside. Articles Service Tax Thu, 29 Jun 2023 08:31:40 +0530 https://www.taxtmi.com/article/detailed?id=11550