Export without payment of integrated tax: LUT or running bond allowed; bank guarantee tied to exporter record and limited. Exports without payment of integrated tax must be secured by a Letter of Undertaking (LUT) or a bond in FORM GST RFD-11; exporters not eligible for LUT must furnish a bond on state stamp paper. Bonds may be furnished as a running bond covering estimated tax liabilities, with exporters ensuring outstanding liabilities remain within the bond amount and submitting additional bonds if needed. FORM RFD-11 contemplates a bank guarantee; the jurisdictional Commissioner may require, waive, or fix its amount based on exporter track record, and it should normally not exceed a limited proportion of the bond amount.
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 without payment of integrated tax: LUT or running bond allowed; bank guarantee tied to exporter record and limited.
Exports without payment of integrated tax must be secured by a Letter of Undertaking (LUT) or a bond in FORM GST RFD-11; exporters not eligible for LUT must furnish a bond on state stamp paper. Bonds may be furnished as a running bond covering estimated tax liabilities, with exporters ensuring outstanding liabilities remain within the bond amount and submitting additional bonds if needed. FORM RFD-11 contemplates a bank guarantee; the jurisdictional Commissioner may require, waive, or fix its amount based on exporter track record, and it should normally not exceed a limited proportion of the bond amount.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
