Bond for export without integrated tax requires bank guarantee and payment of integrated tax on demand to secure compliance. Obligation to secure export without payment of integrated tax is effected by a bond binding the obligor and successors to the President, with a Commissioner-mandated bank guarantee endorsed to the President. The bond conditions require export of the specified goods or services and payment of integrated tax and other lawful dues, with interest where applicable, within a limited period after written demand; compliance voids the bond, while breach permits recovery from the bank guarantee or enforcement of the bond.
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Bond for export without integrated tax requires bank guarantee and payment of integrated tax on demand to secure compliance.
Obligation to secure export without payment of integrated tax is effected by a bond binding the obligor and successors to the President, with a Commissioner-mandated bank guarantee endorsed to the President. The bond conditions require export of the specified goods or services and payment of integrated tax and other lawful dues, with interest where applicable, within a limited period after written demand; compliance voids the bond, while breach permits recovery from the bank guarantee or enforcement of the bond.
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