TaxTMI 
TaxTMI 
Issues related to Bond/Letter of Undertaking for exports without payment of integrated tax
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....560300. C No VIII/48/90/2017 Air cus Tech. Dated 20.07.2017 PUBLIC NOTICE No. 15/12017 DATED 20.07.2017 Sub: Issues related to Bond/Letter of Undertaking for exports without payment of integrated tax - Reg. **** Attention of the trade and industry, exporters, Importers and other stake holders is invited to Instruction No. 4/4/2017-GST issued vide file F. No. 349/82/2017-GST dated....
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....of Undertaking (LUT) in FORM GST RFD-11. 4. Attention is invited to notification No. 16/2017-Central Tax dated 01-072017 vide which the category of exporters who are eligible to export under LUT has been specified along with the conditions and safeguards. All exporters, not covered by the said notification, would submit bond. The procedures for submission and acceptance of bond has alread....
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....at the outstanding tax liability on exports is within the bond amount. In case the bond amount is insufficient to cover the tax liability in yet to be completed exports, the exporter shall furnish a fresh bond to cover such liability. 6. FORM RFD -11 under rule 96A of the CGST Rules requires furnishing a bank guarantee with bond. Field formations have requested for clarity on the amount o....
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....d that the Bond/LUT shall be accepted by the jurisdictional Deputy/Assistant Commissioner having jurisdiction over the principal place of business of the exporter. The exporter is at liberty to furnish the bond/LUT before Central Tax Authority or State Tax Authority till the administrative mechanism for assigning of taxpayers to respective authority is implemented. However, if in a State, the Comm....