https://www.taxtmi.com/circulars?id=66949 Providing personal bank guarantees by directors is a supply of service between related persons and is valued under Rule 28; where RBI rules preclude payment, the open market value may be zero and thus no taxable value arises, except where remuneration is actually paid. Corporate guarantees between related persons, including holding company to subsidiary, are also a supply of service and their taxable value is determined under Rule 28 as amended by the newly inserted sub rule (2), which does not apply to personal guarantees. en-us Mon, 06 Nov 2023 00:00:00 +0530 Wed, 08 Nov 2023 17:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=66949 Providing personal bank guarantees by directors is a supply of service between related persons and is valued under Rule 28; where RBI rules preclude payment, the open market value may be zero and thus no taxable value arises, except where remuneration is actually paid. Corporate guarantees between related persons, including holding company to subsidiary, are also a supply of service and their taxable value is determined under Rule 28 as amended by the newly inserted sub rule (2), which does not apply to personal guarantees. Circulars GST - States Mon, 06 Nov 2023 00:00:00 +0530 https://www.taxtmi.com/circulars?id=66949