https://www.taxtmi.com/circulars?id=67318 Providing personal guarantees by directors to secure company credit is a supply of service between related persons and is valued under Rule 28; where RBI prohibits any consideration to guarantors the open market value may be treated as zero and taxable value may be nil, except in exceptional cases where remuneration is paid. Corporate guarantees by related companies, including holding company guarantees for subsidiaries, are also supplies of service and their taxable value is to be determined under Rule 28 as amended by the newly inserted sub rule (2), which governs valuation of such corporate guarantees and does not apply to personal guarantees. en-us Fri, 02 Feb 2024 00:00:00 +0530 Sat, 20 Apr 2024 12:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=67318 Providing personal guarantees by directors to secure company credit is a supply of service between related persons and is valued under Rule 28; where RBI prohibits any consideration to guarantors the open market value may be treated as zero and taxable value may be nil, except in exceptional cases where remuneration is paid. Corporate guarantees by related companies, including holding company guarantees for subsidiaries, are also supplies of service and their taxable value is to be determined under Rule 28 as amended by the newly inserted sub rule (2), which governs valuation of such corporate guarantees and does not apply to personal guarantees. Circulars GST - States Fri, 02 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/circulars?id=67318