https://www.taxtmi.com/article/detailed?id=12613 The amendment deems provision of corporate guarantees by related persons to be a supply of service under Schedule I and prescribes a standard valuation for such services as one per cent of the guaranteed amount or the actual consideration, whichever is higher, thereby bringing guarantees given without consideration into the GST net and standardising taxable value irrespective of input tax credit eligibility. en-us Thu, 16 May 2024 09:02:24 +0530 Thu, 16 May 2024 09:02:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=12613 The amendment deems provision of corporate guarantees by related persons to be a supply of service under Schedule I and prescribes a standard valuation for such services as one per cent of the guaranteed amount or the actual consideration, whichever is higher, thereby bringing guarantees given without consideration into the GST net and standardising taxable value irrespective of input tax credit eligibility. Articles Goods and Services Tax - GST Thu, 16 May 2024 09:02:24 +0530 https://www.taxtmi.com/article/detailed?id=12613