Registered person shall be eligible for submission of letter of UT Bond - S.O. 167. - Bihar SGST

Bihar Government Commercial Tax Department The 21st September 2017 S.O. 167. dated 21st September 2017- In exercise of the powers conferred by sub-rule (5) of rule 96A of the Bihar Goods and Services Tax Rules, 2017, the Governor of Bihar hereby specifies the conditions and safeguards for the registered person who intends to supply goods or services for export without payment of integrated tax, for furnishing a Letter of Undertaking in place of a Bond. (i). The following registered person shall be eligible for submission of letter of Undertaking in place of a bond:- (a) a status holder as specified in paragraph 5 of the Foreign Trade policy 2015-2020 ; or (b) who has received the due foreign inward remittances amounting to a minimum of 10% of the export turnover, which should not be less than one crore rupees, in the preceding financial year, and he has not been prosecuted for any offence under the Bihar Goods and Services Tax Act, 2017 (12 of 2017) or under any of the existing laws in case where the amount of tax evaded exceeds two hundred and fifty lakh rupees. (ii). The Letter of Undertaking shall be furnished in duplicate for a financial year in the annexure to FORM GST RFD-11 referred to in sub-rule (1) of rule 96A of the Bihar Goods and Services Tax Rules, 2017 and it shall be executed by the working partner, the Managing Director or the Company Secretary or the proprietor or by a person duly authorised by such working partner or Board of Director of such company or proprietor on the letter head of the registered person. 2. This notification shall come into force with effect from 1st day of July, 2017. [(File No. Bikri-kar/GST/Vividh-20 /2017-3529)] By the order of Governor of Bihar, SUJATA CHATURVEDI, Commissioner-cum-Principal Secretary, Commercial Taxes Department.