Export under Letter of Undertaking extended to all registered persons, subject to prosecution exceptions and bond safeguards. The circular extends the facility of export under Letter of Undertaking (LUT) to all registered persons except those prosecuted for significant tax evasion, permits bonds with bank guarantees where LUT is inapplicable, and makes an LUT valid for the financial year subject to withdrawal if specified tax is not paid within prescribed time; payment restores the facility. It prescribes provisional filing of FORM GST RFD-11 to the jurisdictional Deputy Commissioner, accepts exporter self-declaration subject to post-facto verification, mandates three working day processing (deemed accepted if not acted upon), and requires running bonds, maintenance of liability records, and supervised sealing until self-sealing is operational.
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Export under Letter of Undertaking extended to all registered persons, subject to prosecution exceptions and bond safeguards.
The circular extends the facility of export under Letter of Undertaking (LUT) to all registered persons except those prosecuted for significant tax evasion, permits bonds with bank guarantees where LUT is inapplicable, and makes an LUT valid for the financial year subject to withdrawal if specified tax is not paid within prescribed time; payment restores the facility. It prescribes provisional filing of FORM GST RFD-11 to the jurisdictional Deputy Commissioner, accepts exporter self-declaration subject to post-facto verification, mandates three working day processing (deemed accepted if not acted upon), and requires running bonds, maintenance of liability records, and supervised sealing until self-sealing is operational.
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