Corporate guarantee without consideration was not taxable. Profit/markup not liable to service tax.

CESTAT New Delhi held that providing Corporate Guarantee without consideration is not taxable u/s 66B of Finance Act, 1994 as it lacks 'provider' and 'consideration' elements. Profit/markup is taxable under service tax based on precedent cases like M/s Tiger Logistics (India) Ltd. The tribunal upheld the order, dismissing the revenue appeal. .....

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