https://www.taxtmi.com/circulars?id=68012 Personal bank guarantees by directors are supplies of service between related persons; where regulatory banking guidance forbids consideration, the open market value may be treated as nil and the taxable value as zero, except in exceptional cases where remuneration is paid. Corporate guarantees by related companies or by holding companies for subsidiaries are also supplies of service and their taxable value must be determined under the statutory valuation provision for related-party guarantees, applied uniformly irrespective of input tax credit availability. The corporate-guarantee valuation rule does not apply to director personal guarantees. en-us Wed, 01 Nov 2023 00:00:00 +0530 Mon, 30 Dec 2024 18:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=68012 Personal bank guarantees by directors are supplies of service between related persons; where regulatory banking guidance forbids consideration, the open market value may be treated as nil and the taxable value as zero, except in exceptional cases where remuneration is paid. Corporate guarantees by related companies or by holding companies for subsidiaries are also supplies of service and their taxable value must be determined under the statutory valuation provision for related-party guarantees, applied uniformly irrespective of input tax credit availability. The corporate-guarantee valuation rule does not apply to director personal guarantees. Circulars GST - States Wed, 01 Nov 2023 00:00:00 +0530 https://www.taxtmi.com/circulars?id=68012