GST – States – F. No.AC/Export Cell/W.208/2017-18/566-571 – Dated:- 10-10-2017 – Office of the Special Commissioner (GST) Export/KCS Branch, Department of Trade & Taxes Govt. of NCT of Delhi 8th Floor, Vyapar Bhawan, I.P. Estate, New Delhi-110002 F. No.AC/Export Cell/W.208/2017-18/566-571 Dated: 10-10-2017 Circular Subiect:- Issues related to Bond/Letter of Undertaking (LUT) FOR Export without payment of Integrated Goods & Service Tax (IGST). Ref : Notification No. 37/2017 Central Tax dated 04-10-2017, Circular No. 08-08-2017-GST dated 04-10-2017 issued by CBEC, Ministry of Finance, Govt. of India. In supersession of earlier Circular No.-AC/Export Cell/W-208/2017-18, dated 2-8-2017 and Circular No. AC/Export Cell/W-208/2017-18/848-877, dated 7-9-2017 except as respects things done or omitted to be done before such supersession. 1 All registered persons who intend to supply goods or services for export without payment of integrated tax shall be eligible to furnish. Letter of Un
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
of integrated tax will be deemed to have been withdrawn and if the amount mentioned in the said sub-rule is paid, the facility of export without payment of Integrated tax shall be restored. 2. Validity of LUT: The LUT shall be valid for the whole financial year in which it is tendered. 3. Bank Guarantee: Since the facility of export under LUT has been extended to all registered persons, bond will be required to be furnished by those persons who have been prosecuted for cases involving an amount exceeding Rupees Two hundred and fifty lakhs. A bond, in all cases, shall be accompanied by a bank guarantee of 15% of the bond amount. 4. Clarification regarding running bond: The exporters shall furnish a running bond where the bond amount would cover the amount of sell-assessed estimated tax liability on the export. The exporter shall ensure that the outstanding Integrated tax liability on exports is within the bond amount. In case the bond amount is insufficient to cover the said liability
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
ove, a fresh list of documents to be submitted for acceptance of FORM GST RFD-11 with Letter of Undertaking (LUT) at Export Cell Window, 1st Floor, Vypar Bhawan, Deptt. of Trade & Taxes, I.P. Estate, New Delhi as under:- 1 The registered person/exporter will submit request letter on its letter head for acceptance of GST RFD-11 signed by the proprietor/partner/director/authorised signatory as the case may be. 2 Form GST RFD-11 duly filled and signed with seal on company/firm's letter head. 3 Letter of Undertaking (prescribed format available on www.cbec.gov.in) on company/firm's letter head (in duplicate) duly signed by competent authority. 4 Undertaking/declaration on letter that he has not prosecuted for any office under the Central Goods and Services Tax Act, 2017 (12 of 2017 or Delhi GST Act, 2017 or under any of the existing laws in case where the amount of tax evaded exceeds two hundred and fifty lakh rupees. 5 Copy of GST Registration Certificate Provisional/Permanent
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =