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of <h1>New Guidelines for Export Bonds and LUTs Under GST Act 2017: Flexibility and Compliance Simplified.</h1> The circular addresses issues related to the furnishing of bonds or Letters of Undertaking (LUT) for exports without integrated tax payment under the Goods and Services Tax Act, 2017. Exporters must furnish a bond or LUT in FORM GST RFD-11, with eligibility and conditions specified in notification No. 16/2017-Central Tax. A running bond is preferred over consignment-wise bonds to reduce compliance burdens. The jurisdictional Commissioner will determine the bank guarantee amount, which should not exceed 15% of the bond amount. LUTs are valid for 12 months, and exporters must comply with revised formats by July 31, 2017. Bonds/LUTs are accepted by the jurisdictional Deputy/Assistant Commissioner.
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