The Department of Trade & Taxes, Govt, of NCT of Delhi has earlier issued acceptance of Letter of Undertaking(LUT)/Bond on the basis of notification No.16/2017-Central Tax dt 07/07/2017 circular no 2/2/17-GST dt 4/7/17; no- 4/4/20174-GST dt 7/7/17 & no- 5/5/17-GST dt 11/7/2017. As per the provisions of these notifications and circulars, the applicant dealer was liable to execute a Bond and a Bank Guarantee .

After the issatnce of notification no-37/2017- Central Tax dt 4/10/17 and circular no 8/8/2017-GST dt 4/10/17 by Ministry of Finance, Govtoflndia, Central Board of Excise & Custom, the facility of export under LUT has been extended to all registered person who intend to supply goods or services for export without payment of IGST. As per this notification, the requirement of executive Bond with Bank Guarantee is done away with.

In view of the above, it is decided to return the Bank Guarantee submitted by the exporters to the issuing bank with a copy of intimation to the registered person (exporters).However the Bank Guarantee will be released only after the registered person has obtained a letter of acceptance of LUT as per the notification dated 04.10.2017 and return the letter of acceptance of Bond( in original) already issued to him by the Department..

All the ward incharges of Export Cell/KCS Branch are directed to initiate necessary' action accordingly.

(KAPIL SINGH)

SPECIAL COMMISSIONER (KCS)/

NODAL OFFICER (EXPORT)