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Ignoring CBIC Circulars on Rule 28 Valuation Vitiates GST Demand on Corporate Guarantee: Madras High Court

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By Mariya Paliwala
Ignoring CBIC Circulars on Rule 28 Valuation Vitiates GST Demand on Corporate Guarantee: Madras High Court

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The Madurai Bench of the Madras High Court has set aside a GST demand raised on the furnishing of a corporate guarantee between related parties, holding that the tax authority failed to consider binding CBIC circulars relied upon by the assessee.  The bench of Justice G.R.Swaminathan ruled that non-consideration of a specific defence raised in…

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Mariya Paliwala
Mariya Paliwalahttps://www.jurishour.in/
Mariya is the Senior Editor at Juris Hour. She has 7+ years of experience on covering tax litigation stories from the Supreme Court, High Courts and various tribunals including CESTAT, ITAT, NCLAT, NCLT, etc. Mariya graduated from MLSU Law College, Udaipur (Raj.) with B.A.LL.B. and also holds an LL.M. She started her career as a freelance tax reporter in the leading online legal news companies.

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