Export compliance: Bond or LUT governs export without integrated tax, with running bond option and commissioner-set guarantees. Exports without payment of integrated tax require furnishing FORM GST RFD-11 as a bond or LUT; eligible exporters may use LUT while others must submit a bond on non-judicial stamp paper. Bonds may be running bonds covering estimated tax liability; exporters must keep outstanding liabilities within the bond amount and furnish fresh bonds if liabilities exceed it. Jurisdictional Commissioners decide bank guarantee requirements-dispensing with guarantees for good track records-and the bank guarantee should normally not exceed fifteen percent. LUTs are valid for twelve months and noncompliance may trigger bond requirement. Bonds/LUTs are accepted by the Deputy/Assistant Commissioner having jurisdiction over the principal place of business, with temporary acceptance by Central or State Tax Authorities as administratively required.
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.
Export compliance: Bond or LUT governs export without integrated tax, with running bond option and commissioner-set guarantees.
Exports without payment of integrated tax require furnishing FORM GST RFD-11 as a bond or LUT; eligible exporters may use LUT while others must submit a bond on non-judicial stamp paper. Bonds may be running bonds covering estimated tax liability; exporters must keep outstanding liabilities within the bond amount and furnish fresh bonds if liabilities exceed it. Jurisdictional Commissioners decide bank guarantee requirements-dispensing with guarantees for good track records-and the bank guarantee should normally not exceed fifteen percent. LUTs are valid for twelve months and noncompliance may trigger bond requirement. Bonds/LUTs are accepted by the Deputy/Assistant Commissioner having jurisdiction over the principal place of business, with temporary acceptance by Central or State Tax Authorities as administratively required.
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