No GST is applicable for the services provided by the Director under personal guarantee and loan extensions for the Company
Last updated: 20 November 2024
Court :
Kerala High Court
Brief :
The Hon'ble Kerala High Court in the case of M/s.Manappuram Finance Ltd. v. Union of India [Writ Petition (Civil) No. 24617 of 2022 dated July 29, 2024] wherein, M/s Manappuram Finance Ltd. ("the Petitioner") was served the Show Cause Notice ("the Impugned SCN") demanding the GST on the Reverse Charge Mechanism ("RCM") for the services provided by the Managing Director concerning personal guarantee loans taken by the Petitioner and the GST payable for the services for extending the loans by the Petitioner to its subsidiary company.
Citation :
Writ Petition (Civil) No. 24617 of 2022 dated July 29, 2024
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Bimal Jain
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