Hi
Last year we did a Bond Agreement in August 2017 and furnished a Bank Guarantee in form of a Fioxed Deposit (currently with Bank). Later GSTN Cameout with a notification allowing all Registered GSTN Dealers to file LUT in case they want to Export or to sell goods to SEZ Units without furnishing any Bank Guarantee.
My questions are :
1. Whether the Bond Agreement & Bank Guarantee is valid upto 1 year or for only the respective Financial Year ?
2. Can we apply for LUT for FY18-19 onwards with reference to existing Bond Agreement ?
3. Whether after submitting LUT online, do we still need to go to Jurisdictional office and pay bribes or the whole system is fully onlnie now ?
4. Once LUT is done, can we ask bank to release the Fixed Deposit from Lien ?
Expecting fast response so that our business should not get held up for a longer period.
Regards
Rakesh
CAclubindia
