When the application for LUT or Bond is submitted by the taxpayer for export of goods or services and if any information is missing, the concerned officer will issue FORM GST RFD-03 requesting the applicant to file a fresh application in FORM GST RFD-02.
The person who has obtained LUT or executed Bond for export of goods have to export the goods within fifteen days from the expiry of three months of the LUT / Bond execution date or the due date can be extended by the commissioner.
As per Rule 96A, if any registered person wants to supply goods or services without payment of integrated goods and service tax for export of goods or services, have to furnish Letter of Undertaking or Bond to the FORM GST RFD-11 to the jurisdictional Commissioner.
The taxable person applying for provisional payment of taxes under GST shall execute a bond or bank guarantee and furnish the same in FORM GST ASMT-05 to the concerned officer.
As per Rule 139, on the seizure of the goods by the concerned officer, the tax payer can get the same released provisionally on submission of a bank guarantee for the amount equal to applicable tax, interest, and penalty payable along with execution of the bond in FORM GST INS-04.
As per Circular No. 4/4/2017-GST, every taxpayer who is exporting goods or services is required to furnish a running bond or a letter of undertaking in FORM GST RFD-11, in cases, if the goods or services are being exported without payment of IGST.