TMI BlogIssues related to Bond/Letter of Undertaking for exports without payment of integrated taxX X X X Extracts X X X X X X X X Extracts X X X X ..... ICE No. 19/2017 Subject: Issues related to Bond/Letter of Undertaking for exports without payment of integrated tax Reg. ******** Attention of all Customs Brokers, Exporters, Importers, Members of the Trade and other stake holders is invited to Board's Circular No. 4/4/2017-GST dated 07.07.2017 regarding difficulties being faced in complying with the procedure prescribed for m ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 4 th July, 2017( Public Notice No. 15/2017 dated 06.07.2017 issued by this office). The bond shall be furnished on non-judicial stamp paper of the value as applicable in the S ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rter shall furnish a fresh bond to cover such liability. 5. 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, the jurisdictional Commissioner shall decide about the amount of bank guarantee depending upon the track record of the expo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... entral Tax Authority or State Tax Authority till the administrative mechanism for assigning of taxpayers 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 Central tax officer till such time the said administrative mechanism is implemented. Central Tax officers are d ..... X X X X Extracts X X X X X X X X Extracts X X X X
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