Regarding return of Bank guarantee submitted by exporters - GST - States - F. NO. AC/Export Cell/W-208/2017-18/3004

OFFICE OF THE SPECIAL COMMISSIONER, (KCS) GOVT OF NCT OF DELHI: DEPTT. OF TRADE TAXES : 8 FLOOR VYAPAR BHAWAN I.P. ESTATE : NEW DELHI-110002 F. NO. AC/Export Cell/W-208/2017-18/3004 Dated: 05-02-2018 CIRCULAR The Department of Trade Taxes, Govt. of NCT of Delhi has earlier issued acceptance of Letter of undertaking (LUT) Bond on the basis of notification No-16/2017-Central Tax dt 07/07/2017 circular no 2/2/17-GST dt 4/7/17; no- 4/4/2017-GST dt 7/7/17 no- 5/5/17-GST dt 11/7/2017. As per the provisions of these notifications and the applicant dealer was liable to execute a Bond and a Bank Guarantee . After the issuance of notification no-37/2017- Central Tax dt 4/10/17 and circular no 8/8/2017- GST dt 4/10/17 by Ministry of Finance, Govt. of India, Central Board of Excise Custom, the facility of export under LUT has been extended to all registered person who intend to supply goods or services for export without payment of IGST. As per this notification, the requirement of executive Bond with Bank Guarantee is done away with. In view of the above, it is decided to return the Bank Guarantee submitted by the exporters to the issuing bank with a copy of intimation to the registered person (exporters).However the Bank Guarantee will be only after the registered person has obtained a letter of acceptance of LUT as per the notification dated 04.10.2017 and return the letter of acceptance of Bond (in original) already issued to him by the Department.. All the ward incharges of Export Cell/KCS Branch are directed to initiate necessary action accordingly. (KAPIL SINGH) SPECIAL COMMISSIONER (KCS)/NODAL OFFICER (EXPORT)