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of <h1>New Circular Expands LUT Facility for Exporters; Excludes Those with Tax Evasion Over INR 2.5 Crore.</h1> The circular provides clarification on issues related to furnishing Bonds/Letters of Undertaking (LUT) for exports without integrated tax payment. It extends the LUT facility to all registered exporters, except those prosecuted for tax evasion exceeding INR 2.5 crore. LUTs are valid for the financial year, and the bond/LUT form can be downloaded from the Central Board of Excise and Customs website. Self-declaration suffices unless specific information suggests otherwise. The circular emphasizes the priority processing of LUTs/bonds and outlines procedures for bank guarantees, running bonds, and jurisdictional authority. It also addresses export transactions in Indian Rupees and rescinds previous related circulars.
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