Corporate guarantee without consideration was not taxable. Profit/markup not liable to service tax.

Corporate guarantee without consideration was not taxable. Profit/markup not liable to service tax. https://www.taxtmi.com/highlights?id=77997 CESTAT New Delhi held that providing Corporate Guarantee without consideration is not taxable u/s 66B of Finance Act, 1994 as it lacks 'provider' and 'consideration' elements. Profit/markup is taxable under service tax based on precedent cases like M/s Tiger Logistics (India) Ltd. The tribunal upheld the order, dismissing the revenue appeal. en-us Fri, 31 May 2024 08:37:19 +0530 Fri, 31 May 2024 08:37:19 +0530 TaxTMI RSS Generator Corporate guarantee without consideration was not taxable. Profit/markup not liable to service tax. https://www.taxtmi.com/highlights?id=77997 CESTAT New Delhi held that providing Corporate Guarantee without consideration is not taxable u/s 66B of Finance Act, 1994 as it lacks 'provider' and 'consideration' elements. Profit/markup is taxable under service tax based on precedent cases like M/s Tiger Logistics (India) Ltd. The tribunal upheld the order, dismissing the revenue appeal. Highlights Service Tax Fri, 31 May 2024 08:37:19 +0530 https://www.taxtmi.com/highlights?id=77997