Providing guarantee is a very common part of business finance wherein one person provides guarantee to the bank or financier on behalf of the other person for securing loan or credit facility. In some cases, commission is paid as a consideration for providing guarantee. CBIC has received various representations with respect to applicability of GST on personal guarantee provided by Director to the bank for granting credit facility to the company or corporate guarantee provided by the company on behalf of its sister concern or subsidiary company.
The Government of India since the launch of GST has been a predominant area in the business world. It has become vital for every business organization to comply with the law right from billing to filing the returns.
This GST era is beneficial to curb the tax evasion, yet it has increased the complexities, demand for large data, and compliances. Thus it is always a wise decision to outsource GST work
GST outsourcing implies services by experts at VJM & Associates with regard to all the intricacies of GST. You focus on the core business and leave all the statutory compliances on us and trust about timely compliances.