TaxTMI 
TaxTMI 
Subject: Issues related to Bond/Letter of Undertaking for exports without payment of integrated tax – Reg..
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....t: Issues related to Bond/Letter of Undertaking for exports without payment of integrated tax - Reg.. Attention of the Importers, Exporters, Customs Brokers and the members of Trade is invited to the above mentioned subject. It is noticed that difficulties are being faced by the trade in complying with the procedure prescribed for making exports of goods and services without payment of integrated....
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.... bond has already been prescribed vides circular No. 2/2/2017-GST dated 4th July, 2017. The bond shall be furnished on non-judicial stamp paper of the value as applicable in the State in which bond is being furnished. 4. A clarification has been sought as to whether bond to be furnished for exports is a running bond (with debit / credit facility) or a one-time bond (separate bond for each consign....
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....arantee as a security for the bond. In this regard it is directed that the jurisdictional Commissioner may decide about the amount of bank guarantee depending upon the track record of the exporter. If Commissioner is satisfied with the track record of an exporter then furnishing of bond without bank guarantee would suffice. In any case the bank guarantee should normally not exceed 15% of the bond ....
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.... general instruction, to exporter, the Bond/LUT in all cases be accepted by Central tax officer till such time the said administrative mechanism is implemented. Central Tax officers are directed to take every step to facilitate the exporters. 8. Attention is further invited to circular No. 26/2017 - Customs dated 1st July 2017, vide which it has been clarified that the existing practice of sealin....