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.
As per the rules of the Bar Council of India, lawyers and law firms are not permitted to solicit work or advertise. By clicking on the "I Agree" button, you acknowledge and confirm that you are seeking information relating to Economic Laws Practice (ELP) of your own accord and there has been no advertisement, personal communication, solicitation, invitation or any other inducement of any sort whatsoever by or on behalf of ELP or any of its members to solicit any work through this website.