Conditions and safeguards for furnishing a Letter of Undertaking in place of a bond for export without payment of integrated tax - 11/2017 - Telangana SGST

GOVERNMENT OF TELANGANA COMMERCIAL TAXES DEPARTMENT TGST Notification No. 11/2017 CCT s Ref No. A(1)/141/2017 Dt. 14-11-2017 In exercise of the powers conferred by sub-rule (5) of Rule 96A of the Telangana Goods and Services Tax Rules, 2017, the Commissioner of State Tax, 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 3.2 and 3.21 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 Telangana Goods and Services Tax Act, 2017 (23 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 Telangana 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 Directors of such company or proprietor on the letter head of the registered person. This Notification shall be deemed to have come into force with effect from the 7 th day of July, 2017. Sd/- V. Anil Kumar Commissioner of State Tax