GST Council tweaks hiring norms for tribunal, clarifies on taxability of corporate, personal guarantees

New Delhi: Goods and Services Tax (GST) Council on Saturday clarified on the taxability of personal and corporate guarantees, tweaked the norms for hiring members and President of GST appellate tribunal and allowed businesses to file appeals despite delays. As per the decision of the federal indirect tax body, no tax has to be paid on personal guarantees given by directors of companies that raise…