Corporate Guarantee under Rule 28(2) When 2 Fictions Collide
Corporate Guarantees under GST (Rule 28(2)) : When 2 Fictions Collide The Madurai Bench of the Madras High Court (Order W.P.(MD) No. 2021 of 2025, decided on 06.10.2025) has reignited the debate over how Rule 28(2) and its Proviso interact when valuing corporate guarantees under GST. Background The Petitioner had extended a corporate guarantee to …