https://www.taxtmi.com/circulars?id=66937 Personal guarantees by directors are a supply of service between related persons even without consideration and are valued at open market value; where regulation prohibits any consideration to the director, the open market value may be treated as nil. Corporate guarantees by related companies or by a holding company for a subsidiary are also supplies between related persons and their taxable value must be determined under the statutory valuation provision amended to include a specific sub-rule for corporate guarantees, applied uniformly regardless of input tax credit availability. The corporate-guarantee valuation sub-rule does not apply to personal guarantees. en-us Wed, 01 Nov 2023 00:00:00 +0530 Fri, 03 Nov 2023 16:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=66937 Personal guarantees by directors are a supply of service between related persons even without consideration and are valued at open market value; where regulation prohibits any consideration to the director, the open market value may be treated as nil. Corporate guarantees by related companies or by a holding company for a subsidiary are also supplies between related persons and their taxable value must be determined under the statutory valuation provision amended to include a specific sub-rule for corporate guarantees, applied uniformly regardless of input tax credit availability. The corporate-guarantee valuation sub-rule does not apply to personal guarantees. Circulars GST - States Wed, 01 Nov 2023 00:00:00 +0530 https://www.taxtmi.com/circulars?id=66937