Cancellation of Legal Undertaking (LUT) requires BRC-backed reconciliation and proof of payment for any excess duty credit. Cancellation of Legal Undertaking (LUT) against post-export licence schemes requires submission of original Bank Realization Certificates (BRC) and a prescribed worksheet referencing column 14 of the BRC to reconcile admitted, realized and excess amounts; where Excess Duty Credit has been availed the original customs challan and payment of excess with interest from the date of licence issue must be produced.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Cancellation of Legal Undertaking (LUT) requires BRC-backed reconciliation and proof of payment for any excess duty credit.
Cancellation of Legal Undertaking (LUT) against post-export licence schemes requires submission of original Bank Realization Certificates (BRC) and a prescribed worksheet referencing column 14 of the BRC to reconcile admitted, realized and excess amounts; where Excess Duty Credit has been availed the original customs challan and payment of excess with interest from the date of licence issue must be produced.
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