No Service Tax on Issuance of Corporate Guarantee by Director Without Consideration: SC

Commissioner of CGST And Central Excise Vs Edelweiss Financial Services Ltd. (Supreme Court of India)

In a significant judgment, the Supreme Court of India has ruled that the issuance of a corporate guarantee on behalf of group companies by a director without consideration is not considered a taxable service. This landmark ruling was made in the case of Commissioner of CGST And Central Excise Vs Edelweiss Financial Services Ltd.

In its judgment, the court acknowledged that

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