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TMI BlogIssues related to Bond/Letter of Undertaking for exports without payment of integrated taxX X X X Extracts X X X X X X X X Extracts X X X X ..... ces without payment of integrated tax with respect to furnishing of bonds/Letter of Undertaking. Therefore, in exercise of powers conferred under section 168 (l) of the Central Goods and Services Tax Act, 2017, for the purpose of uniformity in the implementation of the Act, these issues are being clarified hereunder. 2. As per rule 96A of the Central Goods and Services Tax Rules, 2017 ( The CGST Rules), any registered person exporting goods or services without payment of integrated tax is required to furnish a bond or a Letter of Undertaking (LUT) in FORM GST RFD-11. 3. Attention is invited to notification No. 16/2017-Central Tax dated 01-07-2017vide which the category of exporters who are eligible to export unde ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... submit bond. The procedure for submission and acceptance of bond has already been prescribed vide Public Notice No. 03/2017 dated 06.07.2017 [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 whether bond to be furnished for exports is a running bond (with debit / credit facility) or a one-time bond (separate bond for each consignment / export). It is observed consignment wise bond would be a significant compliance burden on the exporters. It is directed that the exporters shall furnish a running bond, in case he is required to furnish a bond, in FORM GST RF ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lace 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 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 invited to Public Notice 02/2017 dated 05.07.2017 [circular No. 26/2017 - Customs dated 1st July 20171, vide which it has been clarified that the existing practice ..... X X X X Extracts X X X X X X X X Extracts X X X X
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