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In this tutorial, Girish Kulkarni discusses the treatment of bank guarantees under GST law. He highlights that guarantees are a common requirement for borrowings by financial institutions, including banks and NBFCs. The focus is on whether guarantees provided by holding companies for their subsidiary companies, or by directors for the borrowings of a private limited company, are considered taxable transactions in the GST regime. The video aims to clarify how these guarantees fit into the GST supply framework, emphasizing that a supply qualifies as a taxable event based on specific parameters. The discussion will address the implications and nuances of these financial guarantees concerning GST.
