https://www.taxtmi.com/highlights?id=102522 GST demand alleging suppression of taxable value in bank guarantees should follow scrutiny and verification of self-assessment returns. The GST framework permits scrutiny, audit, special audit, inspection and investigation to identify possible revenue leakage; a Form GST DRC-01 notice should not be issued directly without first undertaking the relevant exercise. The demand order discussed was quashed and remitted for inspection or investigation and, if warranted, fresh determination of revenue leakage from guarantees issued to customers. The valuation and taxability issues concerning corporate guarantees were left open. Limitation exclusion was directed for the intervening period, and recovery remained in abeyance pending the statutory exercise. en-us Sat, 08 Aug 2026 10:33:44 +0530 Sat, 08 Aug 2026 10:33:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=102522 GST demand alleging suppression of taxable value in bank guarantees should follow scrutiny and verification of self-assessment returns. The GST framework permits scrutiny, audit, special audit, inspection and investigation to identify possible revenue leakage; a Form GST DRC-01 notice should not be issued directly without first undertaking the relevant exercise. The demand order discussed was quashed and remitted for inspection or investigation and, if warranted, fresh determination of revenue leakage from guarantees issued to customers. The valuation and taxability issues concerning corporate guarantees were left open. Limitation exclusion was directed for the intervening period, and recovery remained in abeyance pending the statutory exercise. Highlights GST Sat, 08 Aug 2026 10:33:44 +0530 https://www.taxtmi.com/highlights?id=102522