Brief of Update:

This update pertains to release of notifications and circular regarding providing relaxation from furnishing of bond for all exporters and suppliers to SEZs. The summary of the notification and circular is as under: 

The CBEC has issued a Notification No 37/2017 – CT and Circular 8/8/2017-GST dated 4th Oct, 17 regarding furnishing of Letter of Undertaking (LUT) instead of Bond. 

Earlier, only certain class of exporters and exporters with certain turnover criterion were al- lowed to furnish LUT instead of bond along with bank guarantee for export of goods or services outside India or to a SEZ unit or developer. Now, every exporter and supplier to SEZ have been given the facility to file LUT instead of bond.

Read more: SBS I 7th Edition

Transitional Provisions under GST

This article is contributed by Partners of SBS and Company LLP - Chartered Accountant Company. You can be reached at This email address is being protected from spambots. You need JavaScript enabled to view it.

Place of supply - IGST Laws

This article is contributed by Partners of SBS and Company LLP - Chartered Accountant Company. You can be reached at This email address is being protected from spambots. You need JavaScript enabled to view it.

Coverage:

Registration under GST.
Composition Scheme under GST.
Valuation under GST.
Input Tax Credit under GST.
Returns under GST.

This article is contributed by Partners of SBS and Company LLP - Chartered Accountant Company. You can be reached at This email address is being protected from spambots. You need JavaScript enabled to view it.