GST - LUT or bond - CBEC asks field officers to facilitate exports
By TIOL News Service
NEW DELHI, JULY 23, 2017: ONE sector which seems to be grappling with the impact of GST is the exports sector. With the CBEC coming out with bond and LUT solutions even for the services exporters, the field formations of the Board have not yet come up with any uniform format and complaints continue to pour in at the doorstep of the Board.
Keeping in mind the national interest the CBEC Chairperson has, in her weekly communication, askd the field officers to extend the benefit of LUT to all sorts of exporters - manufacturers, merchants and service exporters. The Board has also vested powers in the Commissioners to grant waiver of bank guarantee with bond in genuine cases.
To further facilitate exporters in the GST era, the Board has asked three Customs Houses - Delhi, Chennai and Mumbai-I - to examine the queries of exporters and importers and furnish Draft response to the Board.
|