CBIC modifies Bond (B-17) execution process: Circular

  • GST
  • Circular
  • financeseva

CBIC has clarified that in case of B-17 bond executed by EOU/STP/EHTPs in capacity of proprietorship or partnership firm; surety cannot be given by proprietor/ partner himself.  

Such assurances shall be given by an independent legal entity other than the owner/ partner of the concerned Proprietorship/ Partnership EOU firm.