Gujarat High Court Upholds GST on Corporate Guarantees but Reads Down 1% Valuation Rule
The Gujarat High Court has upheld the constitutional validity of Rule 28(2) of the CGST Rules, allowing GST on corporate guarantees between related parties, but has read down the ‘whichever is higher’ clause, permitting valuation based on actual consideration or 1%, whichever is opted by the taxpayer.
Gujarat High Court Upholds GST on Corporate Guarantees but Reads Down 1% Valuation Rule Read Post »
