Exports without integrated tax require bond or LUT; eligibility, running bond, bank guarantee and acceptance procedures clarified. Registered persons exporting without payment of integrated tax must furnish a bond in FORM CST RFD-11 or, if eligible under Notification No.16/2017, a Letter of Undertaking. Exporters required to furnish a bond shall maintain a running bond covering estimated tax liability and provide additional bond if liabilities exceed the bond amount. A bank guarantee may be required at the Commissioner's discretion but should normally not exceed fifteen percent of the bond. LUTs are valid for twelve months and bonds/LUTs are to be accepted by the jurisdictional Deputy/Assistant Commissioner at the exporter's principal place of business.
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Exports without integrated tax require bond or LUT; eligibility, running bond, bank guarantee and acceptance procedures clarified.
Registered persons exporting without payment of integrated tax must furnish a bond in FORM CST RFD-11 or, if eligible under Notification No.16/2017, a Letter of Undertaking. Exporters required to furnish a bond shall maintain a running bond covering estimated tax liability and provide additional bond if liabilities exceed the bond amount. A bank guarantee may be required at the Commissioner's discretion but should normally not exceed fifteen percent of the bond. LUTs are valid for twelve months and bonds/LUTs are to be accepted by the jurisdictional Deputy/Assistant Commissioner at the exporter's principal place of business.
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