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TMI BlogIssues related to Bond/Letter of Undertaking for export without payment of integrated taxX X X X Extracts X X X X X X X X Extracts X X X X ..... ubject: -Issues related to Bond/Letter of Undertaking for export without payment of integrated tax Reg. Ref - F. No. 349/82/2017-GST Kind attention is invited to Board's Circular No. 4/4/2017-GST dated 7th July, 2017 on the above subject. 2. Various communications have been received from the field formations and exporters that difficulties are being faced in complying with the procedure prescri ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... th 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 4th July, 2017.The bond shall be furnished on non-judicial stamp paper of the value as applicable in the State in which bond is being furnished. 5. A clarification has been soug ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... under Rule 96A of the COST 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 guarantee depending upon the track record of the exporter. If Commissioner is satisfied with the track record of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... al 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 directed to take every step to facilitate the exporters. 9. Attention is further invited to circular No. 26/2017 - Customs dated 1st July 2017, vide which it has been clarified that the existing practice of sealing the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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