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Person Exporting Goods or Services have 2 options

  • Pay Full IGST and then claim Refund
  • Do Not pay IGST and export goods after paying Bond or Letter of Undertaking Government

Government has issued Notification 16/2017 CGST (Non-Rate)

As per this notification, following persons need not submit a bond

  1. A status Holder (as per Paragraph 5 of Foreign Trade Policy)
  2. In last year, foreign inward remittances to minimum of 10% of turnover which should not be less than 1 crore received in preceding financial year
    And Has not been prosecuted of any offense under CGST or any existing laws where amount of tax evaded does not exceed 250 lacs

How to Furnish Letter of undertaking

It shall be furnished in duplicate

In Prescribed Form GST RFD -11

And it shall be  executed by MD/Partner/Director or other Authorized Person

In letter head of registered person (Company letterhead)

notfctn-16-central-tax-english-1.jpg

 

Conditions For LUT Corrigendum

 

16_2017-CT_ConditionsForLUT_Corrigendum-1.jpg

  1. GST - Goods and Services Tax, India
  2. GST News & Updates
  3. Latest GST Notification
    List of CGST Notifications (Non Rates)

    List of CGST Notifications (Rates)

    New Sections come into force Notification 1/2017

    Appointment of Jurisdiction of Different Officers 2/2017

    CGST Rules Notified Notification 3/2017

    Common Portal Notified Notification 4/2017

    Seller (Supplier) of Reverse Charge Exempted from Registration Notification 5/2017

    Aadhar Card and Bank Account OTP as Mode of Verification (Notification 6/2017)

    Changes Made in CGST Ruies 2017 (Notification 7/2017)

    Turnover and Rates of Composition Scheme Notified (Notification 8/2017 DATED 27 June 2017)

    Following Sections come into Force (Notification 9/2017)

    Central Goods and Service tax Second Amendment Rules (Notification No. 10/2017 dated)

    Change in E Verification Method GST (Notification 11/2017 Non Rate)

    Turnover Prescribed to Mention HSN Codes (Notification 12/2017)

    CGST Interest Rates Notified (Notifications 13/2017)

    Interest Rate and Calculation on Late Payment of GST

    Officers whose Power to be Exercised Notified (Notification 14/2017)

    Central Goods and Service tax Third Amendment Rules (Notification No. 15/2017 dated 1 July 2017)

    Option Not to Give Bond and Give LOU instead (Notification 16/2017) You are here

    GSTR3B to be filed till What Period? Dec or March?

    GSTR1 For July to be filed again?

    GSTR1 Due Dates Changes 10 Nov 2017 Council Meeting

    GSTR2 and GSTR3 Suspended Not to be filled

    Late Fees for GST Return Reduced to Rs 20 from 200

    GST Late Fees to be Refunded as Tax for July to September

    Registration Not Required for E-Commerce Service Providers

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Latest GST Notification
List of CGST Notifications (Non Rates)

List of CGST Notifications (Rates)

New Sections come into force Notification 1/2017

Appointment of Jurisdiction of Different Officers 2/2017

CGST Rules Notified Notification 3/2017

Common Portal Notified Notification 4/2017

Seller (Supplier) of Reverse Charge Exempted from Registration Notification 5/2017

Aadhar Card and Bank Account OTP as Mode of Verification (Notification 6/2017)

Changes Made in CGST Ruies 2017 (Notification 7/2017)

Turnover and Rates of Composition Scheme Notified (Notification 8/2017 DATED 27 June 2017)

Following Sections come into Force (Notification 9/2017)

Central Goods and Service tax Second Amendment Rules (Notification No. 10/2017 dated)

Change in E Verification Method GST (Notification 11/2017 Non Rate)

Turnover Prescribed to Mention HSN Codes (Notification 12/2017)

CGST Interest Rates Notified (Notifications 13/2017)

Interest Rate and Calculation on Late Payment of GST

Officers whose Power to be Exercised Notified (Notification 14/2017)

Central Goods and Service tax Third Amendment Rules (Notification No. 15/2017 dated 1 July 2017)

Option Not to Give Bond and Give LOU instead (Notification 16/2017) You are here

GSTR3B to be filed till What Period? Dec or March?

GSTR1 For July to be filed again?

GSTR1 Due Dates Changes 10 Nov 2017 Council Meeting

GSTR2 and GSTR3 Suspended Not to be filled

Late Fees for GST Return Reduced to Rs 20 from 200

GST Late Fees to be Refunded as Tax for July to September

Registration Not Required for E-Commerce Service Providers

About the Author

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CA Maninder Singh
CA Maninder Singh is a Chartered Accountant for the past 7 years. He provides courses for Practical Accounts, Taxation and Efiling at teachoo.com .
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