Refund of integrated tax on export: bond or Letter of Undertaking required, export confirmation and recovery if conditions unmet. A new rule 96A requires a registered person exporting without payment of integrated tax to furnish a bond or Letter of Undertaking in FORM GST RFD-11 prior to export, binds the person to pay tax and interest within specified periods if goods are not exported or payment in convertible foreign exchange is not received, mandates electronic transmission of export invoice details to Customs and provides for withdrawal and restoration of export authorisation and applicability to zero-rated supplies to SEZ developers or units.
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Refund of integrated tax on export: bond or Letter of Undertaking required, export confirmation and recovery if conditions unmet.
A new rule 96A requires a registered person exporting without payment of integrated tax to furnish a bond or Letter of Undertaking in FORM GST RFD-11 prior to export, binds the person to pay tax and interest within specified periods if goods are not exported or payment in convertible foreign exchange is not received, mandates electronic transmission of export invoice details to Customs and provides for withdrawal and restoration of export authorisation and applicability to zero-rated supplies to SEZ developers or units.
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