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Issue related to Bond/Letter of Undertaking for exports without payment of integrated tax.

GST - States - GST Circular No. 01/ 2017 - Dated:- 14-7-2017 - Government of Rajasthan Commercial Taxes Department, No. F.17(134)ACCT/GST/2017/2242 Dated-14.07.2017 GST Circular No. 01/ 2017 To, All Joint Commissioner (Adm.), Commercial Taxes Department, …………………………….. Sub.:- Ref:- Notification no. 16/2017 - Central Tax dated 07-07-2017, Circular no. 2/2/2017 - GST dated 04-07-2017 and Circular no. 4/4/2017 GST dated 07- .....

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Tax Rules, 2017 any registered person availing the option to supply goods or services for export without payment of integrated tax shall furnish, prior to export, a bond or a Letter of Undertaking. This bond or Letter of Undertaking is required to be furnished in FORM GST RFD-11. The Central Board of Excise and Customs has issued Notification No. 16/2017-Central Tax under sub-rule (5) of rule 96A to notify eligible registered person for submission of letter of undertaking in place of a Bond. The .....

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by the GST policy wing of Central Board of Excise and Customs. Further, Circular number 4/4/2017-GST dated 7th July, 2017 has been also issued by the GST policy wing of Central Board of Excise and Customs, wherein the procedure to accept the Bond/LUT has been provided. 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 Au .....

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. In this regard it is directed that the jurisdictional Joint Commissioner (Adm.) may decide about the amount of bank guarantee depending upon the track record of the exporter. If Joint Commissioner (Adm.) 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 amount. It is further directed that proper record of all such FORM GST RFD-11 along with bond/ Letter of Und .....

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