Page 20 - Craftcil July 2017
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              exporter shall ensure that the outstanding tax liability on exports is within the bond amount. In case the bond
              amount is insufficient to cover the tax liability in the yet to be completed exports, the exporter shall furnish a
              fresh bond to cover such liability.
            5. FORM RFD -11 under rule 96A of the CGST Rules requires furnishing a bank guarantee with bond. Field formations
              have requested for clarity on the amount of bank guarantee as a security for the bond. In this regard it is directed
              that the jurisdictional Commissioner may decide about the amount of bank guarantee depending upon the track
              record of the exporter. If the Commissioner is satisfied with the track record of an exporter then furnishing of
              bond without bank guarantee would suffice. In any case the bank guarantee should normally not exceed 15% of
              the bond amount.

            6. As regards LUT, it is clarified that it shall be valid for twelve months. If the exporter fails to comply with the
              conditions of the LUT he may be asked to furnish a bond. Exports may be allowed under existing LUTs/Bonds till
              31st July 2017. Exporters shall submit the LUTs/bond in the revised format latest by 31st July, 2017.

            7. It is further stated that the Bond/LUT shall be accepted by the jurisdictional Deputy/Assistant Commissioner having
              jurisdiction over the principal place of business of the exporter. The exporter is at liberty to furnish the bond/LUT
              before Central Tax Authority or State Tax Authority till the administrative mechanism for assigning of tax payers to
              respective authority is implemented. However, if in a State, the Commissioner of State Tax so directs, by general
              instruction, to exporter, the Bond/LUT in all cases be accepted by Central tax officer till such time the said administrative
              mechanism is implemented. Central Tax officers are directed to take every step to facilitate the exporters.
            8. Attention is further invited to circular No. 26/2017-Customs dated 1st July 2017, vide which it has been clarified
              that the existing practice of sealing the container with a bottle seal under Central Excise supervision or otherwise
              would continue till 1st September, 2017. Such sealing shall be done under the supervision of the officer having
              physical jurisdiction over the place of business where the sealing is being done. A copy of the sealing report
              would be forwarded to the Deputy/Assistant Commissioner having jurisdiction over the principal place of business.

            9. These instructions shall apply to exports on or after 1st July, 2017. It is requested that suitable trade notices may
              be issued to publicise the contents of this circular. Difficulty, if any, in the implementation of the above
              instructions may please be brought to the notice of the Board.

             Impex # 3                                Exporting under GST Regime

           Important guidelines/                GSTIN / PAN and Invoice information in Shipping Bill:
           information for exporters after      1. Quoting GSTIN in Shipping bill is mandatory if the export product attracts
           commencement of GST Scheme.          GST for domestic clearance.
           2. Quoting PAN (Permanent Account Number), which is authorised as 'Import Export code by DGFT, would suffice if
              the exporter exclusively deals with products which are either wholly exempt from GST or out of GST regime.
           3. In case of exports by specialised agencies such as United Nations Organization or notified Multilateral Financial
              Institutions, Embassies and Consulates, the exporter can quote Unique Identity Number, instead of GSTIN, in the
              Shipping bill.
           4. Without GSTIN or PAN or UIN, the Shipping bill cannot be filed.

           5. The claim for refund of IGST paid or Input Tax Credit on inputs consumed in goods exported cannot be processed
              without GSTIN and GST Invoice details in Shipping Bill.

           6. Commercial Invoice information should be provided in the Shipping Bill. Wherever Commercial Invoice is different
              from Tax Invoice, details of both have to be provided in the Shipping Bill.

            20  CRAFTCIL • July 2017
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