https://www.taxtmi.com/highlights?id=96827 Guarantee commission paid by a State undertaking to the State government for guarantees on bonds falls within the exemption under Entry No. 34A of Notification No. 12/2017-Central Tax (Rate), as amended, and is therefore not subject to GST. The Authority relied on the statutory entry's language and the CBIC clarification (Circular No. 154/10/2021) to construe the scope of exempted services, concluding that consideration received by the State for guaranteeing loans or debentures qualifies for exemption; consequently the commission payable for the guarantees is exempt from GST. en-us Thu, 12 Feb 2026 10:34:37 +0530 Thu, 12 Feb 2026 10:34:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=96827 Guarantee commission paid by a State undertaking to the State government for guarantees on bonds falls within the exemption under Entry No. 34A of Notification No. 12/2017-Central Tax (Rate), as amended, and is therefore not subject to GST. The Authority relied on the statutory entry's language and the CBIC clarification (Circular No. 154/10/2021) to construe the scope of exempted services, concluding that consideration received by the State for guaranteeing loans or debentures qualifies for exemption; consequently the commission payable for the guarantees is exempt from GST. Highlights GST Thu, 12 Feb 2026 10:34:37 +0530 https://www.taxtmi.com/highlights?id=96827