Eligibility for Letter of Undertaking tied to foreign inward remittance thresholds; LUTs to be prioritised and processed promptly. Clarifies that LUT eligibility requires specified foreign inward remittance thresholds in the preceding year, with status holders exempt; only actual exporters may claim zero rating under LUT or by payment of IGST and CT 1 has no relevance under GST. LUTs must be on letterhead, accepted by the jurisdictional Deputy/Assistant Commissioner, and processed within three working days of complete submission. Self-declarations and proof of status shall be accepted unless contradicted and may be verified post facto. Bank guarantees are normally capped but may be waived by the Commissioner in appropriate cases.
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.
Eligibility for Letter of Undertaking tied to foreign inward remittance thresholds; LUTs to be prioritised and processed promptly.
Clarifies that LUT eligibility requires specified foreign inward remittance thresholds in the preceding year, with status holders exempt; only actual exporters may claim zero rating under LUT or by payment of IGST and CT 1 has no relevance under GST. LUTs must be on letterhead, accepted by the jurisdictional Deputy/Assistant Commissioner, and processed within three working days of complete submission. Self-declarations and proof of status shall be accepted unless contradicted and may be verified post facto. Bank guarantees are normally capped but may be waived by the Commissioner in appropriate cases.
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