Issues related to Bond/Letter of Undertaking for exports without payment of integrated tax

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... Trade/35/15 Dated: 14.07.2017 Trade Notice No. 05/2017 Subject: Issues related to Bond/Letter of Undertaking for exports without payment of integrated tax - Reg. Attention is invited to Circular No-04/04/2017- GST issued under F. No. 349/82/2017- GST dated 07.07.2017 by the Central Board of Excise and Customs (GST policy Wing) on the a .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ter of Undertaking (LUT) in FORM GST RFD-11. 3. Attention is invited to Notification No. 162017-Central Tax dated 01 -07-2017 vide which the category of exporters who are eligible 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 h .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... liability on is within the amount. In case the bond amount is insufficient to cover the tax liability in yet to be completed exports, the exporter shall furnish a fresh bond to cover such liability. 5. 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 .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... onal Deputy/Assistant Commissioner having jurisdiction over the principal place Of business of the exporter. The exporter is at liberty to furnish the bond/LUT before Central Tax Authority or State Tax Authority till the administrative mechanism for assigning of taxpayers to authority is implemented. However, if in a State. the Commissioner of State Tax so directs, by general instruction. to expor .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... 9. These instructions shall apply to exports on or after July, 2017. All Trade Associations are requested to give wide publicity to the contents of this Trade Notice among their Members in particular and trade in general. This issues with the approval of the Commissioner. (K R Madhar) Additional Commissioner - Circular - T .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X