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    <title>Issues related to Bond/Letter of Undertaking (LUT) FOR Export without payment of Integrated Goods &amp; Service Tax (IGST)</title>
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    <description>Exports without payment of integrated tax are permitted on furnishing a Letter of Undertaking valid for the financial year, except for persons prosecuted for offences where tax evaded exceeds the prescribed threshold; failure to pay tax and interest under rule 96A withdraws the facility until payment is made. Bonds remain mandatory for prosecuted persons and must be accompanied by a bank guarantee of 15% of the bond. Running bonds may be used to cover assessed export IGST liability, with the exporter responsible for maintaining entries and topping up the bond when insufficient. FORM GST RFD-11 is to be submitted (manually until portal functionality exists) and will be processed by the Assistant Commissioner within three working days if documents are in order.</description>
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    <pubDate>Tue, 10 Oct 2017 00:00:00 +0530</pubDate>
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      <title>Issues related to Bond/Letter of Undertaking (LUT) FOR Export without payment of Integrated Goods &amp; Service Tax (IGST)</title>
      <link>https://www.taxtmi.com/circulars?id=56827</link>
      <description>Exports without payment of integrated tax are permitted on furnishing a Letter of Undertaking valid for the financial year, except for persons prosecuted for offences where tax evaded exceeds the prescribed threshold; failure to pay tax and interest under rule 96A withdraws the facility until payment is made. Bonds remain mandatory for prosecuted persons and must be accompanied by a bank guarantee of 15% of the bond. Running bonds may be used to cover assessed export IGST liability, with the exporter responsible for maintaining entries and topping up the bond when insufficient. FORM GST RFD-11 is to be submitted (manually until portal functionality exists) and will be processed by the Assistant Commissioner within three working days if documents are in order.</description>
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      <pubDate>Tue, 10 Oct 2017 00:00:00 +0530</pubDate>
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