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In the context of the GST notification, what is the applicable GST rate for corporate guarantees provided by corporations to their subsidiaries?
- a)6%
- b)12%
- c)18%
- d)24%
Correct answer is option 'C'. Can you explain this answer?
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In the context of the GST notification, what is the applicable GST rat...
The Ministry of Finance has notified an 18% GST rate for corporate guarantees provided by corporations to their subsidiaries. This means that 18% GST will be levied on 1% of the total amount guaranteed by the parent company or the actual consideration, whichever is higher. This move is aimed at bringing clarity and consistency to the taxation of corporate guarantees.
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In the context of the GST notification, what is the applicable GST rat...
Applicable GST Rate for Corporate Guarantees:
Corporate guarantees provided by corporations to their subsidiaries fall under the category of services. As per the GST notification, the applicable GST rate for corporate guarantees is 18%.
Explanation:
- Corporate guarantees are considered as supply of services under the Goods and Services Tax (GST) regime.
- The GST rate applicable to services is 18% as per the GST notification.
- Therefore, any corporate guarantees provided by corporations to their subsidiaries will attract an 18% GST rate.
Conclusion:
In conclusion, the applicable GST rate for corporate guarantees provided by corporations to their subsidiaries is 18%. It is important for corporations to be aware of this rate while providing such guarantees to ensure compliance with GST regulations.
Corporate guarantees provided by corporations to their subsidiaries fall under the category of services. As per the GST notification, the applicable GST rate for corporate guarantees is 18%.
Explanation:
- Corporate guarantees are considered as supply of services under the Goods and Services Tax (GST) regime.
- The GST rate applicable to services is 18% as per the GST notification.
- Therefore, any corporate guarantees provided by corporations to their subsidiaries will attract an 18% GST rate.
Conclusion:
In conclusion, the applicable GST rate for corporate guarantees provided by corporations to their subsidiaries is 18%. It is important for corporations to be aware of this rate while providing such guarantees to ensure compliance with GST regulations.
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In the context of the GST notification, what is the applicable GST rate for corporate guarantees provided by corporations to their subsidiaries?a)6%b)12%c)18%d)24%Correct answer is option 'C'. Can you explain this answer?
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