Waiver of guarantee fee procedure thereof

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Full Text of the Document

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.... Guarantee fee is leviable at 1.2 per cent. in respect of external borrowings and at 1 per cent. in respect of domestic borrowings. Guarantee fee is payable in advance every year by the public sector undertaking whose loan are guaranteed by Government of India. 2. Waiver of guarantee fee is an expenditure of the Government of India as it represent revenue foregone. Therefore, the same has to be c....