Central Board Of Indirect Taxes & Customs issued Notification 52/2023-Central Tax and Circular 204/16/2023-GST on 26 October and 27 October 2023, respectively, which concern the levy of GST on personal and corporate guarantees. The Notification and Circular have been issued in accordance with recommendations of the 52nd GST Council Meeting held on 7 October regarding clarifications on the taxability of personal guarantees offered by directors to a bank against the credit limits/loans b…