Export under Letter of Undertaking: exporters may export without IGST subject to LUT, eligibility, timelines, and safeguards. Exporters may supply goods or services zero-rated without paying Integrated Tax by furnishing a Bond or Letter of Undertaking (FORM GST RFD-11) to the jurisdictional Nodal Officer prior to export; LUT is valid for the financial year and available to all registered persons except specified prosecuted parties. Exporters must meet prescribed time limits for exporting or receiving payment or face tax and interest liability and temporary withdrawal of LUT until compliance. Bonds, where required, must be on stamp paper with an accompanying bank guarantee and running bonds must cover outstanding self-assessed liabilities. Nodal Officers must process submissions within three working days, failing which acceptance is deemed.
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.
Export under Letter of Undertaking: exporters may export without IGST subject to LUT, eligibility, timelines, and safeguards.
Exporters may supply goods or services zero-rated without paying Integrated Tax by furnishing a Bond or Letter of Undertaking (FORM GST RFD-11) to the jurisdictional Nodal Officer prior to export; LUT is valid for the financial year and available to all registered persons except specified prosecuted parties. Exporters must meet prescribed time limits for exporting or receiving payment or face tax and interest liability and temporary withdrawal of LUT until compliance. Bonds, where required, must be on stamp paper with an accompanying bank guarantee and running bonds must cover outstanding self-assessed liabilities. Nodal Officers must process submissions within three working days, failing which acceptance is deemed.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
