Home Forum Goods and Services Tax - GST Month 10 2023 2023 (10) This
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RCM ON CORPORATE GUARANTEE - Goods and Services Tax - GSTExtract Dear Sir, corporate guarantee provided by overseas holding company. As per the CBIC order, 18% GST will apply to corporate guarantees between parent and subsidiaries and other related parties either on the financial consideration charged by the guarantor for that service, or 1% of the value of the guarantee, whichever is higher. Guarantee was provided in 2017-18, after july,2017 1.whether RCM to be paid on 1% value of Guarantee for 2017-18, 2.If yes, whether liable for interest even when valuation rule was not available till 26th oct,2023 3.Whether ITC can be availed in current year? pl note:my company is not eligible for 100% ITC
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