https://www.taxtmi.com/article/detailed?id=12763 Rule 28(2) treats a loan guarantee as creating a taxable benefit, but a guarantee imposes risk of indemnification and, lacking contractual privity and a transferable service, does not constitute a supply; therefore valuation rules applied in the absence of supply are ultra vires. en-us Thu, 04 Jul 2024 15:21:19 +0530 Thu, 04 Jul 2024 15:21:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=12763 Rule 28(2) treats a loan guarantee as creating a taxable benefit, but a guarantee imposes risk of indemnification and, lacking contractual privity and a transferable service, does not constitute a supply; therefore valuation rules applied in the absence of supply are ultra vires. Articles Goods and Services Tax - GST Thu, 04 Jul 2024 15:21:19 +0530 https://www.taxtmi.com/article/detailed?id=12763