Letter of Undertaking and bond requirement for integrated tax-free exports clarified; acceptance and security rules provided. Exporters exporting without payment of integrated tax must furnish a Bond or Letter of Undertaking (LUT) in FORM GST RFD-11 accepted by the jurisdictional Deputy/Assistant Commissioner; until the online module is ready, the FORM may be downloaded and submitted manually. Exporters not eligible for LUT must furnish a bond on non-judicial stamp paper. Bonds may be running bonds covering estimated tax liability, require additional bonds if insufficient, and may be secured by a bank guarantee whose amount the jurisdictional Commissioner may determine based on exporter track record.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Letter of Undertaking and bond requirement for integrated tax-free exports clarified; acceptance and security rules provided.
Exporters exporting without payment of integrated tax must furnish a Bond or Letter of Undertaking (LUT) in FORM GST RFD-11 accepted by the jurisdictional Deputy/Assistant Commissioner; until the online module is ready, the FORM may be downloaded and submitted manually. Exporters not eligible for LUT must furnish a bond on non-judicial stamp paper. Bonds may be running bonds covering estimated tax liability, require additional bonds if insufficient, and may be secured by a bank guarantee whose amount the jurisdictional Commissioner may determine based on exporter track record.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
TaxTMI 
