26 November 2015
An exporter shall furnish bond in Form B-1 and obtain certificate in Form CT-1. A manufacturer-exporter may furnish annual Letter of Undertaking (no CT-1 is required in this case).
CT-1 is used for getting the goods from the manufacturer exporter by the merchant exporter for the purpose of export. And UT-1 is used for exporting the goods by the manufacturer exporter without payment of excise duty or without executing the bonds.