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Government of India
Ministry of Finance
Department of Revenue
Central Board of Excise and Customs
Notification No. 16/2017 – Central
Tax
New Delhi, the 7th July, 2017
G.S.R… ( )E.:- In exercise of the powers conferred by sub-rule (5) of rule
96A of the Central Goods and Services Tax Rules, 2017, the Central Board of
Excise and Customs hereby specifies the conditions and safeguards for the
registered person who intends to supply goods or services for export without
payment of integrated tax, for furnishing a Letter of Undertaking in place of a
Bond.
i. The following registered person shall be eligible for submission of Letter
of Undertaking in place of a bond:-
(a) a status holder as specified in paragraph 5 of the Foreign Trade Policy
2015- 2020; or
(b) who has received the due foreign inward remittances amounting to a
minimum of 10% of the export turnover, which should not be less than one crore
rupees, in the preceding financial year,
and he has not been prosecuted for any offence under the Central Goods and
Services Tax Act, 2017 (12 of 2017) or under any of the existing laws in case
where the amount of tax evaded exceeds two hundred and fifty lakh rupees.
ii. The Letter of Undertaking shall be furnished in duplicate for a financial
year in the annexure to FORM GST RFD – 11 referred to in sub-rule (1) of rule
96A of the Central Goods and Services Tax Rules, 2017 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.
(Dr. Sreeparvathy S. L.)
Under Secretary to the Government of
India
[F. No. 349/74/2017 – GST]
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