Wednesday, 4 October 2017

Govt. extends LUT facility to small exporters; No bond & bank guarantee

Govt. decides to extend facility of furnishing Letter of Undertaking, in place of bond, to small exporters without bank guarantee; States, “The issue of cash blockage is expected to be partially addressed by this measure”; Relevant Notification for this shall be issued in due course : Finance Ministry Press Release 

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Gujarat HC upholds levy of GST on corporate guarantee while reads down mandatory 1% valuation where actual consideration is lower

  This Tax Alert summarizes a recent ruling of the Gujarat High Court (HC)1 on the taxability of corporate guarantee provided by the Petitio...