TaxTMI 
TaxTMI 
Refund of IGST - Export of goods or services or both without payment of IGST against under LUT/Bond and claim refund of ITC [Rule 96A of CGST Rule]
X X X X Extracts X X X X
X X X X Extracts X X X X
....r a Letter of Undertaking in FORM GST RFD-11 to the jurisdictional Commissioner, binding himself to pay the tax due along with the interest specified under section 50(1) within a period of - (a) fifteen days after the expiry of three months, or such further period as may be allowed by the Commissioner, * from the date of issue of the invoice for export, if the goods are not exported out of India; or (b) fifteen days after the expiry of one year, or such further period as may be allowed by the Commissioner, * from the date of issue of the invoice for export, if the payment of such services is not received by the exporter in convertible foreign exchange or in Indian rupees, wherever permitted by the Reserve Bank of....
X X X X Extracts X X X X
X X X X Extracts X X X X
....er bond or Letter of Undertaking shall be withdrawn forthwith and the said amount shall be recovered from the registered person in accordance with the provisions of section 79. (4) Restoration of Bond/LUT - The export as allowed under bond or Letter of Undertaking withdrawn shall be restored immediately when the registered person pays the amount due. (5) The Board, by way of notification, may specify the conditions and safeguards under which a Letter of Undertaking may be furnished in place of a bond. (6) The provisions of rule 96A(1) of CGST Act shall apply, mutatis mutandis, in respect of zero-rated supply of goods or services or both to a Special Economic Zone developer or a Special Economic Zone unit without payment of integrate....
X X X X Extracts X X X X
X X X X Extracts X X X X
....;and * the registered person fails to pay the amount mentioned in the said sub-rule, * the facility of export under LUT will be deemed to have been withdrawn. * If the amount mentioned in the said sub-rule is paid subsequently, the facility of export under LUT shall be restored. As a result, exports, during the period from when the facility to export under LUT is withdrawn till the time the same is restored, shall be either on payment of the applicable integrated tax or under bond with bank guarantee. c) What are provisions for acceptance of LUT/Bond ? * The registered person (exporters) shall fill and submit FORM GST RFD-11 on the common portal. * An LUT shall be deemed to be accepted as soon as an acknowled....
X X X X Extracts X X X X
X X X X Extracts X X X X
....he export turnover in the preceding financial year which was not less than Rs. one crore. (ii) the Letter of Undertaking shall be furnished on the letter head of the registered person, in duplicate, for a financial year and it shall be executed by the working partner, the Managing Director or the Company Secretary or the proprietor or by a person duly authorised by such working partner or Board of Directors of such company or proprietor; (iii) where the registered person fails to pay the tax due along with interest, as specified time period under rule 96A(1) of CGST Rules, 2017,the facility of export without payment of integrated tax will be deemed to have been withdrawn and if the amount mentioned in the said sub-rule is....
X X X X Extracts X X X X
X X X X Extracts X X X X
....opy of the sealing report would be forwarded to the Deputy/Assistant Commissioner having jurisdiction over the principal place of business. i) is there provision for issusance of CT-1 form which enable merchant exporter to purchases goods from a manufacturer without payment of tax ? * It is clarified that there is no provision for issuance of CT-1 form which enables merchant exporters to purchase goods from a manufacturer without payment of tax under the GST regime. * The transaction between a manufacturer and a merchant exporter is in the nature of supply and the same would be subject to GST. j) is zero rating applicable for transactions with EOUs ? * Zero rating is not applicable to supplies to EOUs and there....