News & Media 15th Jul 2024
The goods and service tax of 1 per cent will be applicable on the Corporate Guarantee fee on an annual basis and will be applicable from October 23, 2024. The rules notified by the Central Board of Indirect Taxes and Customs (CBIC) following the decision on corporate guarantees in the GST Council meeting on June 22 were “draconian and results into significantly higher cost” and are “detrimental to taxpayers”.
To encapsulate on this issue, The Telegraph’s Suryamurthy R authors an article on “India Inc frets over 1 per cent GST on guarantees” with expert comments from our Partner Harsh Shah.