Applicability of GST on Corporate Guarantee

In this informative session with CA Pranav Kapadia, we explore the latest amendments to CGST Rule 28 Retrospectively w.e.f. 26th October, 2023. The discussion starts with a brief introduction and quickly moves into a comprehensive overview of the new provisions added to the GST framework, circular nos. 204 and 225.

These updates have significant implications for how certain transactions are classified and treated under GST law, particularly focusing on corporate guarantees and their taxability.

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00:00 Introduction
03:42 Brief on what is newly added in GST law via rule 28/02 on 26th of Oct 2023
08:46 What transactions means supply with regards to the said rule
15:00 Availability of ITC in corporate guarantee
21:24 Applicability of Corporate Guarantee
26:48 Whether reverse charge mechanism will trigger in such scenarios.
32:10 Impact on corporate guarantee transactions between 26/10/23 to 1/04/2017
43:07: Closing Note, Disclaimer and Gratitude

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