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TMI BlogSubject: Issues related to Bond/Letter of Undertaking for exports without payment of integrated tax – Reg..X X X X Extracts X X X X X X X X Extracts X X X X ..... PUBLIC NOTICE NO. 22 /2017 Subject: Issues related to Bond/Letter of Undertaking for exports without payment of integrated tax Reg.. Attention of the Importers, Exporters, Customs Brokers and the members of Trade is invited to the Board s Circular No.4/4/2017- Customs dated 07.07.2017 on the above mentioned subject. It is noticed that difficulties are being faced by the Trade in co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... exporters, not covered by the said notification, would submit bond. The procedure for submission and acceptance of bond has already been prescribed vide circular No. 2/2/2017-GST dated 4th July, 2017. The bond shall be furnished on non-judicial stamp paper of the value as applicable in the State in which bond is being furnished. 4. A clarification has been sought as to whether bond to be furnis ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Rules requires furnishing a bank guarantee with bond. Field formations have requested for clarity on the amount of bank guarantee as a security for the bond. In this regard, it is directed that the jurisdictional Commissioner may decide about the amount of bank guarantee depending upon the track record of the exporter. If Commissioner is satisfied with the track record of an exporter then furnishi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ning of tax payers to respective authority is implemented. However, if in a State, the Commissioner of State Tax so directs, by general instruction, to exporter, the Bond/LUT in all cases be accepted by Central tax officer till such time the said administrative mechanism is implemented. Central Tax officers are directed to take every step to facilitate the exporters. 8. Attention is further inv ..... X X X X Extracts X X X X X X X X Extracts X X X X
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