GST- Submission of Letter of Undertaking by the Exporter in respect of Exports without payment of Integrated Tax under the IGST Act — Further Clarification- Issued.
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Letter of Undertaking for zero-rated exports extended to all registered exporters with procedural and security conditions enforced. The facility to export without payment of integrated tax under a Letter of Undertaking is extended to all registered persons subject to exclusions for prosecuted persons beyond the specified tax-evasion threshold, with LUT valid for the financial year but deemed withdrawn if exports are not completed in the time under rule 96A(1) unless tax is paid. LUT/Bond submission procedures, three-working-day deemed acceptance, requirement of bank guarantee with bonds, use of running bonds to cover estimated IGST liabilities, sealing supervision, absence of CT-1, treatment of EOUs and Tamil Nadu jurisdictional arrangements for acceptance are specified.
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.
Letter of Undertaking for zero-rated exports extended to all registered exporters with procedural and security conditions enforced.
The facility to export without payment of integrated tax under a Letter of Undertaking is extended to all registered persons subject to exclusions for prosecuted persons beyond the specified tax-evasion threshold, with LUT valid for the financial year but deemed withdrawn if exports are not completed in the time under rule 96A(1) unless tax is paid. LUT/Bond submission procedures, three-working-day deemed acceptance, requirement of bank guarantee with bonds, use of running bonds to cover estimated IGST liabilities, sealing supervision, absence of CT-1, treatment of EOUs and Tamil Nadu jurisdictional arrangements for acceptance are specified.
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