Procedure to be followed by exporters for Export of Goods or Services under GST
The exporters may go through the following notifications/circulars under which the export procedures have been laid down for export under GST
- Notification No. 16/2017-Central Tax dated 07.07.2017
- Circular No. 26/2017-Customs dated 01.07.2017
- Circular No. 2/2/2017-GST dated 04.04.2017
- Circular No. 4/4/2017-GST dated 07.07.2017
The following documents are being asked for in the Central GST offices for acceptance of Letter of Undertaking or Bond for Export without payment of IGST under Rule 96A of CGST Rules, 2017
- Request Letter for LUT or Bond (on letter head).
- Authorisation Letter
- GSTIN copy
- Pan copy
- IEC copy
- RFD 11
- Either of LUT or Bond- In case, the bank realisation of foreign exchange during the previous financial year was more than Rs. 1 Crore, then LUT is required otherwise Bond with Bank Guaratee is required
- LUT-The Letter of Undertaking shall be furnished in duplicate and it shall be executed by the working partner, the Managing Director or the Company Secretary or the proprietor or by a person duly authorised by such working partner or Board of Directors of such company or proprietor on the letter head of the registered person.
- Bank Certificate or Bank Realisation Certificates (BRCs) or any other proof that Foreign Inward Remittances were more than Rs 1 crore during the preceding financial year (In case of LUT only)
- Bond- It shall be executed by the working partner, the Managing Director or the Company Secretary or the proprietor or by a person duly authorised by such working partner or Board of Directors of such company or proprietor. It should be Notarised on Non Judicial Stamp Paper (Amount of stamp paper depends on the State) with language of Bond with self attested copies of Adhaar of deponent and witnesses and deponent.
- Bank Guarantee in case of Bond only(15% of the Bond amount)
- Undertaking to the effect that they have not been prosecuted for any offence under the Central Goods and Services Tax Act, 2017 or under any of the existing laws in case where the amount of tax evaded exceeds two hundred and fifty lakh rupees. (Required in both cases of LUT and Bond)
Forms which are being used can be downloaded from following links