Export under LUT: facility extended to most exporters enabling zero rating of exports subject to compliance and bond safeguards. Extension of export without payment of integrated tax by furnishing a LUT is available to all registered persons except those prosecuted for offences involving substantial tax evasion. An LUT is valid for the financial year and is deemed accepted on online submission of FORM GST RFD-11 with ARN; no physical documents are required. Withdrawal of the facility follows failure to meet export timelines or pay required tax, after which exports must be on payment of integrated tax or under bond with bank guarantee. Ineligible LUTs may be rejected ab initio.
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 LUT: facility extended to most exporters enabling zero rating of exports subject to compliance and bond safeguards.
Extension of export without payment of integrated tax by furnishing a LUT is available to all registered persons except those prosecuted for offences involving substantial tax evasion. An LUT is valid for the financial year and is deemed accepted on online submission of FORM GST RFD-11 with ARN; no physical documents are required. Withdrawal of the facility follows failure to meet export timelines or pay required tax, after which exports must be on payment of integrated tax or under bond with bank guarantee. Ineligible LUTs may be rejected ab initio.
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 
