Exports under Letter of Undertaking - allow exports without integrated tax subject to running bond, bank security and jurisdictional acceptance. Exports without payment of integrated tax require a Bond or Letter of Undertaking (LUT) under rule 96A; eligible exporters may use LUT, others must submit a bond in FORM GST RFD-II. Bonds may be running bonds covering estimated tax liability and exporters must ensure outstanding liabilities are within bond limits or furnish fresh bonds. Jurisdictional Commissioners may require or waive a bank guarantee based on exporter track record; any required guarantee should normally not exceed the prescribed proportional limit. LUTs are valid for twelve months and acceptance is by the jurisdictional Deputy/Assistant Commissioner or temporarily by Central/State authorities.
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.
Exports under Letter of Undertaking - allow exports without integrated tax subject to running bond, bank security and jurisdictional acceptance.
Exports without payment of integrated tax require a Bond or Letter of Undertaking (LUT) under rule 96A; eligible exporters may use LUT, others must submit a bond in FORM GST RFD-II. Bonds may be running bonds covering estimated tax liability and exporters must ensure outstanding liabilities are within bond limits or furnish fresh bonds. Jurisdictional Commissioners may require or waive a bank guarantee based on exporter track record; any required guarantee should normally not exceed the prescribed proportional limit. LUTs are valid for twelve months and acceptance is by the jurisdictional Deputy/Assistant Commissioner or temporarily by Central/State authorities.
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