No service tax on corporate guarantees by parent to arms: Supreme Court
"No effort was made on behalf of the revenue to assail the...finding or to demonstrate that issuance of corporate guarantees to group companies without consideration would be a taxable service," the top court observed while upholding a ruling by the principal commissioner of goods and services tax (GST). "In these circumstances, in view of such conclusive findings in both forums, we see no reason to admit this case," the court said.