Gujarat HC Bars Retrospective GST

In a significant ruling, the Gujarat High Court has prohibited the retrospective imposition of Goods and Services Tax (GST) on corporate guarantees. This decision is expected to provide relief to companies that had been facing the burden of paying GST on past transactions. The court's order is a result of a petition filed by a company challenging the retrospective application of GST on corporate guarantees. The ruling is seen as a positive development for the business community in Gujarat, as it will help to reduce the financial burden on companies. The Gujarat High Court's decision may also set a precedent for similar cases in other parts of the country.