Eligibility for LUT requires prescribed foreign inward remittance thresholds; LUT accepted for exports in place of bond with conditions. Extends Letter of Undertaking (LUT) eligibility to all registered exporters who, in the preceding financial year, received foreign inward remittances equal to or exceeding ten percent of export turnover and not less than one crore rupees, with status holders exempt from the threshold. LUTs must be on letterhead with authorised signature; LUT/bond must be processed promptly and accepted within three working days. Self-declarations and submitted proof are acceptable subject to post-facto verification. Bank guarantees may be waived in specified circumstances and CT-1 is not relevant under GST.
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Provisions expressly mentioned in the judgment/order text.
Eligibility for LUT requires prescribed foreign inward remittance thresholds; LUT accepted for exports in place of bond with conditions.
Extends Letter of Undertaking (LUT) eligibility to all registered exporters who, in the preceding financial year, received foreign inward remittances equal to or exceeding ten percent of export turnover and not less than one crore rupees, with status holders exempt from the threshold. LUTs must be on letterhead with authorised signature; LUT/bond must be processed promptly and accepted within three working days. Self-declarations and submitted proof are acceptable subject to post-facto verification. Bank guarantees may be waived in specified circumstances and CT-1 is not relevant under GST.
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