Format of Bond under GST for Export

Format of Bond under GST for Export is provided here. Exporters not eligible for export under LUT will be liable to provide a bond for export under GST without payment of IGST. Format of LUT is given here (click here) .Otherwise they will be liable to pay IGST on export and claim the refund of that. Eligibility criteria for filing LUT is given at this link(click here). The format of bond as provided in GST RFD-11 is given here.

Bond for export of goods or services without payment of integrated tax
(See rule 96A)

I/We……………..of………………..,hereinafter called “obligor(s)”, am/are held and firmly bound to the President of India (hereinafter called “the President”) in the sum of………………….rupees to be paid to the President for which payment will and truly to be made.

I/We jointly and severally bind myself/ourselves and my/our respective heirs/ executors/ administrators/ legal representatives/successors and assigns by these presents; Dated this……………….day of………………..;

WHEREAS the above bounden obligor has been permitted from time to time to supply goods or services for export out of India without payment of integrated tax;

and whereas the obligor desires to export goods or services in accordance with the provisions of clause (a) of sub-section (3) of section 16;
AND WHEREAS the Commissioner has required the obligor to furnish bank guarantee for an amount
of…………………………………….. rupees endorsed in favour of the President and whereas the obligor has furnished such guarantee by depositing with the Commissioner the bank guarantee as afore mentioned;

The condition of this bond is that the obligor and his representative observe all the provisions of the Act in respect of export of goods or services, and rules made thereunder;
AND if the relevant and specific goods or services are duly exported;
AND if all dues of Integrated tax and all other lawful charges, are duly paid to the Government along with interest, if any, within fifteen days of the date of demand thereof being made in writing by the said officer, this obligation shall be void;
OTHERWISE and on breach or failure in the performance of any part of this condition, the same shall be in full force and
virtue:
AND the President shall, at his option, be competent to make good all the loss and damages, from the amount of bank guarantee or by endorsing his rights under the above-written bond or both;

I/We further declare that this bond is given under the orders of the Government for the performance of an act in which the public are interested;

IN THE WITNESS THEREOF these presents have been signed the day hereinbefore written by the obligor(s).

Signature(s) of obligor(s).
Date :
Place :
Witnesses
(1) Name and Address                                                                                            Occupation
(2) Name and Address                                                                                            Occupation

Accepted by me this………………………..day of ……………………. (month)……………..…….. (year)
………………………………..of …………….. (Designation) for and on behalf of the President of India.”.