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How GST Applies to Corporate Guarantee Transactions
A corporate guarantee is a legal commitment in which a guarantor undertakes to assume responsibility for another party's debts or obligations if the principal debtor fails to pay. It is a financial assurance offered by a parent firm to help its subsidiary secure credit facilities. While GST laws don’t define Corporate Guarantees, Section 126 of the Indian Contract Act, of 1872, explains the Contract of Guarantee as ensuring performance or liability discharge. Read the full blog on Corporate Guarantee to explore its significance and legal context in trade transactions!
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