TaxTMI 
TaxTMI 
Issues related to Bond/ Letter of Undertaking for export without payment of integrated tax
X X X X Extracts X X X X
X X X X Extracts X X X X
....VENUE BUILDING I.S. PRESS ROAD, KOCHI-682 018 C.No.1V/16/09/2017-Tech Date: 21.08.2017 TRADE FACILITY NO. 12/2017 - central excise Subject: -Issues related to Bond/ Letter of Undertaking for export without payment of integrated tax Reg. Ref: - F. No. 349/82/2017-GST Kind attention is invited to Board's Circular No. 4/4/2017-GST dated 7th July, 2017 on the above subject. 2.....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... to notification No. 16/2017 -Central Tax dated 01-07-2017 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 procedure for submission and acceptance of bond has already been prescribed vide circular No. 2/2/2017-GSTdated 4th July, 2017.The....
X X X X Extracts X X X X
X X X X Extracts X X X X
....ount 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 of bank guarantee as a security for the bond. In this regard it is directed that the jurisdictiona....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... 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 tax payers to respective authority is implemented. However, if in a State, the Commissioner of State Tax so directs, by general instruction, to exporter, the Bond/ LUT in all cases be accepted by Cen....