Export without payment of integrated tax requires bond or letter of undertaking securing tax liability and interest on failure. The amendment inserts Form GST RFD-11 and prescribes bond and Letter of Undertaking formats to allow export of goods or services without payment of integrated tax. Registered persons must furnish either a bank-backed bond or a LUT, submit hard copies of bank guarantees to the jurisdictional officer, and declare that guarantees secure the integrated tax and will be renewed. The bond and LUT bind the obligor to observe GST law, export within prescribed time, and pay integrated tax and interest where exports fail, with recovery permissible from the bank guarantee or by enforcing the bond.
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Provisions expressly mentioned in the judgment/order text.
Export without payment of integrated tax requires bond or letter of undertaking securing tax liability and interest on failure.
The amendment inserts Form GST RFD-11 and prescribes bond and Letter of Undertaking formats to allow export of goods or services without payment of integrated tax. Registered persons must furnish either a bank-backed bond or a LUT, submit hard copies of bank guarantees to the jurisdictional officer, and declare that guarantees secure the integrated tax and will be renewed. The bond and LUT bind the obligor to observe GST law, export within prescribed time, and pay integrated tax and interest where exports fail, with recovery permissible from the bank guarantee or by enforcing the bond.
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