Issues related to furnishing of Bond/Letter of Undertaking for Exports

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..... Date: 17.07.2017 TRADE NOTICE NO. 7/2017-GST Sub: Issues related to furnishing of Bond/Letter of Undertaking for Exports - Reg. Kind attention is invited to the Central Board of Excise and Customs (CBEC) Circular No. 4/4/2017-GST, dated 07.07.2017 clarifying the procedure prescribed for making exports of goods and services without payment of integrated .....

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..... ards. 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 4 th 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 whe .....

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..... -11 under rule 96A of the CGST 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 reco .....

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..... Authority till the administrative mechanism for assigning of taxpayers 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 faci .....

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..... d Circular No. 26/2017- Customs dated 01.07.2017 and Notification No. 16/2017-Central Tax dated 01-07-2017 which may be referred to. 10. All the members of the Regional Advisory Committee and Trade Associations, Chambers of Commerce in the State of Telangana are requested to circulate this Trade Notice among their constituent members for information. (Sunil Jain) .....

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