Punjab & Haryana HC stays CBIC Circular Concerning Taxability of Corporate Guarantees [Read Order]

The circular was stayed to the extent that it clarifies that the provision of corporate guarantee (CG) between related persons, even when made without any consideration, is to be treated as a supply of service between related parties as per the provisions of Schedule I of the CGST Act, 2017
Punjab & Haryana HC - CBIC - Tax updates - Corporate Guarantees - taxnews - taxscan

The Punjab and Haryana High Court has stayed the circular issued by the Central Board of Indirect Taxes and Customs (CBIC) concerning the taxability of corporate guarantees. The circular was stayed to the extent that it clarifies that the provision of corporate guarantee (CG) between related persons, even when made without any consideration, is to…

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