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A clarity on the contentious provision of levying GST on corporate guarantees between two related entities will emerge only after the supreme court gives its final word on the subject, and until then, holding companies are likely to keep getting demand notices, a section of GST officials told ET.
Read more at: The Economic Times
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Acting on the recommendations of GST Council, the Central Board of Indirect Taxes & Customs (CBIC) has ‘regularised’ past show cause notices for tax demand issued to foreign airlines. It has also issued a circular regarding applicability of GST on Preferential Location Charges (PLC) for residential or commercial properties.
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