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TMI BlogIssues related to Bond/Letter of Undertaking for export without payment of integrated taxX X X X Extracts X X X X X X X X Extracts X X X X ..... 2017 TRADE NOTICE NO. 8/2017 Subject: -Issues related to Bond/Letter of Undertaking for export without payment of integrated tax Reg. Ref - F. No. 349/82/2017-GST Kind attention is invited to Board s Circular No. 4/4/2017-GST dated 7 th July, 2017 on the above subject. 2. Various communications have been received from the field formations and exporters that difficulties are be ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... gible to export under LUT has been specified along with the conditions and safeguards. All 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-GsTdated 4th July, 2017.The bond shall be furnished on non-judicial stamp paper of the value as applicable in the State in which bond ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... a fresh bond to cover such liability. 6. FORM RFD- 11 under Rule 96A of the COST 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 export ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n 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. 9. Attention is further invited to circular No. 26/2017 - Customs dated 1 st July 2017, vide whic ..... X X X X Extracts X X X X X X X X Extracts X X X X
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