- Manappuram Finance Ltd was issued a show cause notice demanding GST on services provided by the managing director through personal guarantees on loans
- The Petitioner argued that GST cannot be levied on personal guarantees and loans provided to subsidiaries
- The Kerala HC allowed the writ petition and set aside the show cause notice
Source: jsalaw.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
Latest Posts in "India"
- GST Reduction on Fruit Drinks Excludes Colas; Prices Remain Unchanged for Carbonated Beverages
- Supreme Court Stays Retrospective GST Penalty, Examines Applicability to Non-Taxable Persons
- India Unveils Simplified GST Rate Structure
- GST 2.0: Key Changes, New Rates, and Business Impact Explained
- Guide to GST Refunds for Unregistered Persons: Cancelled Service Contracts Explained
