Tax Management India. Com
                        Law and Practice: A Digital eBook ...

Category of Documents

TMI - Tax Management India. Com
Case Laws Acts Notifications Circulars Classification Forms Manuals SMS News Articles
Highlights
D. Forum
What's New

Share:      

        Home        
 

TMI Blog

Home List
← Previous Next →

Clarification on issues related to furnishing of Bond/Letter of Undertaking for exports.

LAR (No. 03/2017-2018-GST) Subject: Clarification on issues related to furnishing of Bond/Letter of Undertaking for exports In view of the difficulties being faced by the exporters in submission of bonds/Letter of Undertaking (LUT) for exporting goods or services or both without payment of integrated tax, Notification No. CCT/26-2/2017-18/13/3048 dated 11.10.2017, published in Extraordinary Official Gazette, Series I No. 28 dated 12.10.2017 has been issued which extends the facility of LUT to all exporters under rule 96A of the Goa Goods and Services Tax Rules, 2017 (hereafter referred to as "the Goa GST Rules") subject to certain conditions and safeguards. 2. Accordingly, to ensure uniformity in the procedure in this regard, and, .....

X X X X X X X

Full Text of the Document

X X X X X X X

Goods and Service Tax (www.goagst.gov.in) or Central Board of Excise and Customs (www.cbec.gov.in) and furnish the duly filled form to the jurisdictional Deputy Commissioner having jurisdiction over their principal place of business. The LUT shall be furnished on the letter head of the registered person, in duplicate, 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. The bond, wherever required, shall be furnished on non-judicial stamp paper of the value as applicable in the State in which the bond is being furnished. d) Documents for LUT: Self-declaration to the effect .....

X X X X X X X

Full Text of the Document

X X X X X X X

ount. In case the bond amount is insufficient to cover the said liability in yet to be completed exports, the exporter shall furnish a fresh bond to cover such liability. The onus of maintaining the debit / credit entries of integrated tax in the running bond will lie with the exporter. The record of such entries shall be furnished to the State Tax officer as and when required. h) Sealing by officers: Till mandatory self-sealing is operationalized, sealing of containers, wherever required to be carried out under the supervision of the officer, shall be done under the supervision of the central excise officer having jurisdiction over the place of business where the sealing is required to be done. A copy of the sealing report would be forward .....

X X X X X X X

Full Text of the Document

X X X X X X X

through a freely convertible Vostro account of a non-resident bank situated in any country other than a member country of Asian Clearing Union (ACU) or Nepal or Bhutan". Accordingly, it is clarified that the acceptance of LUT for supplies of goods to Nepal or Bhutan or SEZ developer or SEZ unit will be permissible irrespective of whether the payments are made in Indian currency or convertible foreign exchange as long as they are in accordance with the applicable RBI guidelines. It may also be noted that the supply of services to SEZ developer or SEZ unit under LUT will also be permissible on the same lines. The supply of services, however, to Nepal or Bhutan will be deemed to be export of services only if the payment for such services .....

X X X X X X X

Full Text of the Document

X X X X X X X

 

 

← Previous Next →

 

 

|| Home || About us || Feedback || Contact us || Disclaimer || Terms of Use || Privacy Policy || Database || Members || Refer Us ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.
|| Blog || Site Map - Recent || Site Map ||