TMI BlogClarification on issues related to furnishing of Bond/Letter of Undertaking for exports.X X X X Extracts X X X X X X X X Extracts X X X X ..... 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, in exercise of its powers conferred under section 168 (1) of the Goa Goods and Services Tax Act, 2017, the following issues are clarified: a) Eligibility to export under LUT: The facility of export under LUT has been now extended to all registered persons who intend to supply goods or services for export without payment of integrated tax except those who have been prosecuted for any offence ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... g 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 that the conditions of LUT have been fulfilled shall be accepted unless there is specific information otherwise. That is, self declaration by the exporter to the effect that he has not been prosecuted should suffice for the purposes of Notification No. CCT/26-2/2017-18/13/3048 dated 12th October, 2017. Verification, if any, may be done on post-facto basis. e) Time for a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 forwarded to the Deputy Commissioner having jurisdiction over the principal place of business. i) Purchases from manufacturer and Form CT-1 : 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 manu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 is received by the supplier in convertible foreign exchange. l) Jurisdictional officer: In exercise of the powers conferred by sub-section (3) of section 5 of the Goa GST Act, it is hereby stated that the LUT/Bond shall be accepted by the jurisdictional Deputy Commissioner having jurisdiction over the principal place of business of the e ..... X X X X Extracts X X X X X X X X Extracts X X X X
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