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

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..... TRADE NOTICE NO. 12/2017-18 Subject:- Issues related to Bond/Letter of Undertaking for exports without payment of integrated tax - Reg. Attention of the trade, Industries and all other concerned is hereby invited to Circular No. 4/4/2017-GST dated 7 th July 2017 issued under F.NO. 349/82/2017-GST vide which exercising powers conferred under section 168 ( .....

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..... 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 furnished for exports is a running bond (with debit / credit facility) or a one-time bond (separate bond for each consignment / expo .....

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..... 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 furnishing of bond without bank guarantee would suffice. In any case the bank guarantee should normally not exceed 15% of the bon .....

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..... oner 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 circular No. 26/2017 - Customs dated 1 st July 2017, vide which it has been .....

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..... sons immediately. Difficulty, if any, in the implementation of the above instructions may please be brought to the notice of this office. (Dr. S. L. Meena) Principal Commissioner - Circular - Trade Notice - Public Notice - Instructions - Office orders Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - Tax .....

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