RSM India

Newsflash - Export Procedure and Sealing of Containerized Cargo

Vide its Circular no. 26 / 2017 - Customs, dated 1 July 2017, Government of India has prescribed the procedure for export and for sealing of containerized cargo,

Provisions related to Exports are contained in section 16 of IGST Act, 2017 where supplies of goods and services  have been categorized as ‘Zero Rated Supply’ implying that goods could be exported under two options:  

  1. Under Bond  or LUT  without payment of IGST and refund of unutilized ITC,
  2. Payment of IGST with refund  of such tax paid.

Formats for the Bond & Letter of undertaking have been attached separately.

Click here to download

Click here to download Annexure

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