How to file LUT/Bond for SEZ units under GST
By: – PARAS MEHRA
Goods and Services Tax – GST
Dated:- 28-9-2017
Introduction
On receiving large number of representations from exporter, the Central Board of Excise and Customs (CBEC) in order to grant significant relief to the exporter who were facing lot of difficulties under GST regime, had issued circular just to clarify the issues relating to furnishing of bonds/letter of undertaking (LUT) for exports without payment of IGST.
These clarifications brought huge relief for the exporters with respect to export without payment of IGST
Export or Import to SEZ unit is an interstate supply of goods or service and hence they are mainly covered under IGST act.
IGST Act provides fo
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cuss the case I, i.e. supply to SEZ under bond or LUT made without payment of tax.
Supply to SEZ under bond or LUT are also called Zero-rated supplies
Supply to SEZ units under bond or LUT is made in such cases where goods or services are supplied without payment of IGST, it is therefore also called “Zero-rated supplies.
One needs to file certain documents with the department to supply the goods and services to the SEZ units. The list of documents is as under:
* You need to deliver LUT on stamp paper / while in case of Bonds it can be provided on non-judicial stamp paper both should be signed by the appropriate authority of the organization.
* In both LUT / Bond Fill appropriately Form GST-RFD-11 on the letter head of the organizatio
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could be processed smoothly without any hassles and complexity.
Assignment of the officer's jurisdiction is entirely depending upon the principal place of business of the exporter.
Receipt of Acceptance letter
Once you submit the above-said document and LUT / Bond with appropriate authority and the respective officer verify and check the credentials of the information submitted as per the document.
The authority will issue acknowledgement as a token of compliance in the form letter after getting their signature on the documents within 3 days.
Conclusion
We have tried to cover almost all the relevant point in this article further if you need further guidance and assistance and have any doubt or query related to GST feel free to write
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