Centre notifies 18% GST on corporate guarantees

New Delhi: The Central Board of Indirect Taxes and Customs (CBIC) has said that Goods and Services Tax (GST) will apply to corporate guarantees between related entities such as parent firms and subsidiaries from Thursday, 26 October. The order gives effect to the decision announced by the GST Council on 8 October.  As per the CBIC order, 18% GST will apply to corporate guarantees between pare…