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of <h1>West Bengal Tax Circular: Exporters Get Clarity on Bonds/LUT for GST; Exceptions for Tax Evasion Cases Over INR 250 Lakh.</h1> The circular issued by the Directorate of Commercial Taxes in West Bengal provides clarifications on the furnishing of Bonds/Letters of Undertaking (LUT) for exports under the GST regime. It extends the LUT facility to all registered exporters, except those prosecuted for tax evasion exceeding INR 250 lakh. The LUT is valid for the financial year, and failure to export within the stipulated time may lead to withdrawal of the facility. Exporters must furnish the required forms and documents, and the LUT/bond should be processed within three working days. The circular also addresses issues related to bank guarantees, running bonds, and transactions with Export Oriented Units (EOUs). It clarifies that export proceeds can be realized in Indian Rupees under certain conditions, and the jurisdictional officer responsible for accepting LUT/Bond is specified. Previous circulars on the matter are rescinded.
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