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of <h1>Exporters Can Use LUT Instead of Bond for Tax-Free Supplies; Conditions Apply for Eligibility and Documentation.</h1> The circular addresses the procedure for exporters to supply goods or services without paying Integrated Goods & Services Tax (IGST) by using a Letter of Undertaking (LUT) instead of a bond. Eligibility excludes those prosecuted for significant tax offenses. The LUT is valid for one financial year, and a bank guarantee is required for those with past prosecutions involving large sums. Exporters must maintain a running bond to cover estimated tax liabilities and submit FORM GST RFD-11 manually until the online system is operational. Detailed documentation is required for the acceptance of the LUT, and the Assistant Commissioner will process requests within three working days.
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