The CBIC, through Notification No. 12/2024 – Central Tax dated July 10, 2024, has exercised its powers under Section 164 of the CGST Act to amend clause (b) in sub-rule (1) of Rule 96A of the CGST Rules. The amendment is as follows:

Before: (b) Fifteen days after the expiry of one year, or such further period as may be allowed by the Commissioner, from the date of issue of the invoice for export, if the payment of such services is not received by the exporter in convertible foreign exchange or in Indian rupees, wherever permitted by the Reserve Bank of India.

After: (b) Fifteen days after the expiry of one year, or the period as allowed under the Foreign Exchange Management Act, 1999 (42 of 1999) including any extension of such period as permitted by the Reserve Bank of India, whichever is later, from the date of issue of the invoice for export, or such further period as may be allowed by the Commissioner, if the payment of such services is not received by the exporter in convertible foreign exchange or in Indian rupees, wherever permitted by the Reserve Bank of India.

Effect of the Notification:

The CBIC has extended the deadline for filing a bond or a Letter of Undertaking in FORM GST RFD-11. Registered persons opting to supply goods or services for export without payment of integrated tax must submit this form within fifteen days after one year from the date of the export invoice issuance, or within the period allowed under the Foreign Exchange Management Act, 1999 (including extensions by the RBI), whichever is later.