Small exporters have brought to the notice of the Government the difficulties in furnishing bond with requisite bank guarantee. To facilitate exports under GST, it has been decided that the facility of furnishing Letter of Undertaking, in place of a bond, for exporting goods or services or both shall be allowed to exporters and no bank guarantee will be required.The relevant notification for this shall be issued in due course.
The issue of cash blockage is expected to be partially addressed by this measure. More measures are under consideration.
Facility for exporters to furnish Letter of Undertaking instead of bonds
News posted by
CCI News Desk
Finance news reporter covering taxation, GST, income tax, business compliance, and economy updates. I simplify complex financial topics into easy-to-understand articles for professionals, taxpayers, and business owners on leading finance and tax platforms.
Recent News :
- Specified Senior Citizens: TDS Rules on Pension and Interest Income Under Income Tax Act, 2025
- Income Tax Benefits for Small Businesses in 2026-27: Key Deductions and Exemptions
- Set-Off and Carry Forward of Loss Under Income Tax Act 2025
- Income Tax Department Lists 10 ICDS and Their Reconciliation With Accounting Standards
- Finance Ministry Allows 10 Lakh MT Duty-Free Raw Sugar Imports Till 31st October
- Salaried Employees Tax Benefits for TY 2026-27: Check All Allowances and Exemptions
- Compounding of Offences Under Income Tax Act 2025: Key Rules, Charges and Eligibility
- ITR-6 Online Filing for AY 2026-27 Now Available on Income Tax Portal
- Ind AS Amendment Rules 2026: New Changes in Financial Instruments, Hedge Accounting & Disclosures
- Health Insurance Tax Benefits Under IT Act 2025: Deduction Limits, Eligibility and Conditions
Popular News
- Capital Gains Exemptions Under Income Tax Act 2025
- Tax Benefits for Senior Citizens in FY 2026-27: Deductions, TDS Relief and ITR Exemptions
- Time Limits for Issuing IT Notices and Completing Assessments Under Income Tax Act 2025
- Salaried Employees Tax Benefits for TY 2026-27: Check All Allowances and Exemptions
- Income Tax Department Lists 10 ICDS and Their Reconciliation With Accounting Standards
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
