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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 ..... 17 Sub: Issues related to Bond/ Letter of Undertaking for exports without payment of integrated tax - Reg. Kind attention of Exporters/Customs Brokers and the trading public is invited to Board's Circular No.4/4/2017-GST dated 07.07.2017 regarding issues related to Bond/Letter of Undertaking (LUT) for exports without payment of integrated tax. 2. Various communications have been received ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... vide which the category of exporters who are eligible to export under LUT has been specified along 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-GST dated 4th July, 2017. The bond shall be furnished on non-judicial stamp paper of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o be completed exports, the exporter shall furnish a fresh bond to cover such liability. 6. FORM RFD -II 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 it is directed that the jurisdictional Commissioner may decide about the amount of bank guara ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... at liberty to furnish the bond/LUT before Central 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 mechanis ..... X X X X Extracts X X X X X X X X Extracts X X X X
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