‘Steps to yield e-guarantee in FTA portal’, we have learnt the method to submit an e-guarantee within the FTA online entry. Once an e-guarantee is submitted and affirmed, merchandise imported can be cleared at the Traditions. The scenarios of consequence by non-registrants where an e-guarantee is required are:

a. Exchange of products from one VAT assigned zone to another VAT assigned zone.

b. Purport of merchandise into UAE beneath traditions obligation suspension.

The scenarios of UAE moment where an e-guarantee is required, are regularly scenarios where the merchant isn’t obligated to pay VAT on import, on fulfilling certain conditions. In case the conditions are fulfilled, VAT isn’t at risk on the purport, while in case the conditions are not fulfilled, the e-guarantee serves as monetary security for installment of the VAT Services due. In cases where the conditions for waiver of purport VAT are fulfilled, the e-guarantee submitted prior can be cancelled.

Let us get it the steps to cancel a submitted e-guarantee within the FTA VAT entrance.

Steps to cancel e-guarantee in FTA entry

Step 1:

Step 2:

Tap the ‘VAT’ tab as appeared underneath:

Step 3:

Click ‘VAT 701- E-Guarantee Cancellation form’.

Step 4:

Fill within the e-guarantee cancellation form and give the desired data, counting the consequence affirmation number, purport affirmation date and the e-guarantee number.

Step 5:

Once the frame is filled, press the ‘Submit’ button.

Step 6:

Once the accommodation of the e-Guarantee cancellation shape is done effectively, a affirmation message will show up on the screen, specifying that the ask is effective and you’ll get a affirmation e-mail.

Hence, non-registrants who purport products in certain indicated scenarios are required to yield an e-guarantee for the purport in UAE. Once the products are cleared by Traditions and the conditions for waiver of purport VAT Registration are fulfilled, the e- ensure submitted prior can be cancelled by taking after the method given over

You can also Register for VAT Registration on our website:

+9 71 4 393 1773
info@thevatconsultant.com
https://thevatconsultant.com