https://www.taxtmi.com/circulars?id=67235 A director's provision of a personal bank guarantee is treated as a supply of service between related persons even if without consideration; valuation follows related-party valuation and, where banking guidelines forbid payment to guarantors, the open market value may be treated as nil so the taxable value is zero, except in exceptional cases where remuneration is actually paid, in which case the taxable value equals such remuneration. Corporate guarantees between related entities, including holding-subsidiary, are also supplies and their taxable value is determined under the related-party valuation sub-rule introduced for corporate guarantees. en-us Thu, 16 Nov 2023 00:00:00 +0530 Fri, 08 Mar 2024 17:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=67235 A director's provision of a personal bank guarantee is treated as a supply of service between related persons even if without consideration; valuation follows related-party valuation and, where banking guidelines forbid payment to guarantors, the open market value may be treated as nil so the taxable value is zero, except in exceptional cases where remuneration is actually paid, in which case the taxable value equals such remuneration. Corporate guarantees between related entities, including holding-subsidiary, are also supplies and their taxable value is determined under the related-party valuation sub-rule introduced for corporate guarantees. Circulars GST - States Thu, 16 Nov 2023 00:00:00 +0530 https://www.taxtmi.com/circulars?id=67235