Clarification on GST Taxability of Personal and Corporate Guarantees: Circular No. 204/16/2023-GST Released

CIRCULAR NO. 204/16/2023-GST [F.NO. 20/06/22/2023-GST-CBEC]SECTION 7, READ WITH SECTION 9 OF THE CENTRAL GOODS AND SERVICES TAX ACT, 2017 – SCOPE OF SUPPLY – CLARIFICATION ON ISSUES PERTAINING TO TAXABILITY OF PERSONAL GUARANTEE AND CORPORATE GUARANTEE IN GSTCIRCULAR NO. 204/16/2023-GST [F.NO. 20/06/22/2023-GST-CBEC], DATED 27-10-2023Representations have been received from the trade and field formations seeking clarification on certain issues with respect to taxability of activity of providing personal bank guarantee by Directors to banks for securing credit facilities for the company. Similarly,...

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