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In this video, host Girish Kulkarni discusses the treatment of bank guarantees under GST law, highlighting their prevalence among financial institutions, including banks and NBFCs. The tutorial examines whether guarantees, such as those provided by a holding company for its subsidiary’s borrowings or by directors for a private limited company’s loans, are considered taxable transactions within the GST framework. The discussion centers on the definition of "supply" in GST, which is a taxable event that must meet specific criteria. Key points include understanding the implications of guarantees in the context of GST and their classification as taxable supplies.