The Tax Publishers

GST--Levy of Tax

Corporate and Personal Guarantee

CA. Akash Phophalia

The learned author tries to discuss taxation and Valuation aspects relating to corporate and Personal Guarantee.

1. Introduction

Guarantee !!!! a new incumbent to charge GST on it. Guarantee although not defined in GST law but has to be understood in common parlance. It is a promise to compensate loss to third party on behalf of others. Providing guarantee is a kind of service provided by the guarantor to the other person commonly called as 'the principal' or 'the obligor'. This service is chargeable to GST under GST law.

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