Search Results Page
Search Results
1 - 10 of 19 (0.38 seconds)The Maharashtra Goods and Services Tax Act, 2017
Finance Act, 1999
Section 7 in The Central Goods and Services Tax Act, 2017 [Entire Act]
Section 9 in The Central Goods and Services Tax Act, 2017 [Entire Act]
Section 15 in The Central Goods and Services Tax Act, 2017 [Entire Act]
Commissioner Of Cgst And Central Excise vs M/S Edelweiss Financial Services Ltd. on 17 March, 2023
68. However, now the issue is covered under the
judgment of the Hon'ble Apex Court in the case of
Commissioner of CGST & Central Excise Vs. Edelweiss
Financial Services Ltd., (supra), wherein in specific words the
Hon'ble Apex Court has observed that, issuance of corporate
guarantee to group companies without any consideration
would not fall within the ambit of taxable service. Therefore,
there is a substance in the contention of the learned Counsel
for the Petitioner that execution of corporate guarantee is in
the nature of contingent contract which becomes enforceable
only at the instance of the bank/financial institution in the
event of a default. There was no flow of consideration for the
rendering of services. Therefore, taxability does not arise.