The Tripura State Goods and Services Tax Act, 2017 — Instructions related to furnishing of Bond/Letter of Undertaking (LUT) for exports without payment of Integrated Tax.
01/2018-GST (State) Dated:- 13-2-2018 Tripura SGST
GST – States
No. F.1-11(8)-TAX/2015/1225-50
GOVERNMENT OF TRIPURA
OFFICE OF THE CHIEF COMMISSIONER OF STATE TAX
PANDIT NEHRU COMPLEX, GURKHABASTI
AGARTALA, TRIPURA WEST, PIN-799006.
Dated, Agartala, the 13th February, 2018.
Circular No.01/2018 GST (State)
Subject: The Tripura State Goods and Services Tax Act, 2017 – Instructions related to furnishing of Bond/Letter of Undertaking (LUT) for exports without payment of Integrated Tax.
The Tripura State Goods & Services Tax Act, 20 17, the Central Goods & Services Tax Act, 2011 7 and the Integrated Goods & Services Tax Act, 2017 have come into force from 1st July, 2017.
2. Section 16(3) of the Integrated Goods & Services Tax Act, 2017 provides that a registered person making 'Zero Rated' supp
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ing (LUT) in Form GST RFD-11 to the jurisdictional Commissioner binding himself to pay the tax due along with interest in terms of sub-section (1) of section 50 within a period of –
(a) Fifteen (15) days after the expiry of three months from the date of issue of Invoice for export, if the goods are not exported out of India; or
(b) Fifteen (15) days after the expiry of one year, or such further period as may be allowed by the Commissioner, from the date of issue of Invoice for export, if the payment of such services is not received by the exporter in convertible foreign exchange.
4. The Central Board of Excise and Customs (CBEC), Department of Revenue, Ministry of Finance, Government of India vide Notification No.37/2017-Central Tax under section 54 of the Central Goods and Services Tax Act, 2017, under section 20 of the Integrated Goods and Services Tax Act, 2017 & under sub-rule (5) of rule 96A of the said Rules has specified the conditions and safeguards for the registered person
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endent of State Tax having jurisdiction over the principal place of business of the exporter shall accept the Form GST RFD-11 alongwith Bond/ Letter of Undertaking (LUT). The Bond shall be accompanied by a bank guarantee of 15% of the Bond amount.
(iii) Proper record of all such Form GST RFD-11 alongwith Bond/ Letter of Undertaking (LUT) shall be maintained at the office level of the jurisdictional Superintendent of State Tax.
(iv) The jurisdictional Superintendents of State Tax shall follow the conditions and safeguards specified vide Notification No.37/2017Central Tax, dated 04.10.2017 issued by the Government of India, Ministry of Finance, Department of Revenue, Central Board of Excise & Customs (CBEC) and clarification issued vide Circular No. 8/8/2017, dated 04.10.2017 by the Commissioner (GST), Government of India, Ministry of Finance, Department of Revenue, Central Board of Excise & Customs (CBEC), GST Policy Wing.
(Dr. B. Kaur, IAS)
Chief Commissioner of State Tax
Govern
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