Notification No. 52/2023
Date: October 26, 2023
Subject: Amendment to the CGST Rules, 2017 to prescribe valuation of corporate guarantees and amend procedural provisions.
Description:
The value of services provided by way of corporate guarantee to a related person is deemed as one percent of the guarantee amount or actual consideration, whichever is higher. Procedural amendments are made relating to recovery, attachment of property, registration forms, cancellation orders, and statements filed by e-commerce operators. Changes are also introduced in forms relating to tax practitioners and provisional attachment orders.
Effective Date:
26 October 2023