Sterlite Power Transmission Ltd. Vs Union of India
Date: February 27, 2024
Subject Matter
Taxability of Corporate Guarantees Provided by Holding Companies to Subsidiaries: No coercive action till the matter is decided by the court
Summary
The case of Sterlite Power Transmission Ltd. v. Union of India revolves around the taxability of providing corporate guarantees by a holding company to its subsidiary under the CGST Act. The petitioner seeks a declaration that the activity of p…
FULL TEXT OF THE JUDGMENT/ORDER OF DELHI HIGH COURT Allowed, subject to all just exceptions. Application stands disposed of. W.P.(C) 2966/2024 & CM APPL. 12196/2024 1. Petitioner seeks a declaration that the activity of the holding company providing a Corporate Guarantee to a subsidiary is not in the nature of supply of services taxable under Section 9 of the Central Goods and Services Tax Act…