Submission of Bond/Letter of Undertaking by the Exporter in respect of Exports without payment of Integrated Tax under IGST Act.

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....y Government of India, Ministry of Finance, Department of Revenue (Central Board of Excise and Customs. (5) Circular bearing No. 4/4/2017-GST dated 7th July 2017 issued Commissioner of GST (Central Board of Excise and Customs). Sir/Gentlemen/Madam, The Himachal Pradesh Goods and Services Tax Act, 2017, (hereinafter referred to as the "HPGST Act"), the Central Goods and Services Tax Act, 2017, (hereinafter referred to as the "CGST Act") and Integrated Goods and Services Tax Act, 2017 (hereinafter referred to as the "IGST Act") have come into force with effect from 1st July 2017. 2. Section 16(3) of the IGST Act provides that a registered person making zero rated supply shall be eligible to claim refund under either of the following optio....

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....export, if the payment of such services is not received by the exporter in convertible foreign exchange. 5. As per the provisions of sub-rule (5) of aforesaid rules the State Government is empowered to issue notification and provide certain conditions and safeguards under which an exporter may furnish Letter of Undertaking in place of bond. 6. On this background various queries have been received from the Trade and Associations stating the difficulties faced with regards to the procedure prescribed in respect of export of goods and services vis-a-vis payment of integrated tax or submission of Bond or letter of undertaking in place of Bond. The issues are examined. It is seen that the Central Board of Excise and Customs has issued a notifi....