Export under LUT extended to all registered exporters, with processing, bond and verification safeguards clarified. Facility to export under a Letter of Undertaking (LUT) is extended to all registered persons except certain prosecuted taxpayers; the LUT is valid for the financial year tendered and may be withdrawn if export timelines or payment conditions are not met but can be restored on payment. Self-declaration is acceptable with post-facto verification, LUT/bond must be processed within three working days or deemed accepted, bonds require bank guarantees in specified prosecuted cases, running bonds must cover self-assessed integrated tax liabilities, and jurisdictional Deputy/Assistant Commissioners accept LUT/bond filings.
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 extended to all registered exporters, with processing, bond and verification safeguards clarified.
Facility to export under a Letter of Undertaking (LUT) is extended to all registered persons except certain prosecuted taxpayers; the LUT is valid for the financial year tendered and may be withdrawn if export timelines or payment conditions are not met but can be restored on payment. Self-declaration is acceptable with post-facto verification, LUT/bond must be processed within three working days or deemed accepted, bonds require bank guarantees in specified prosecuted cases, running bonds must cover self-assessed integrated tax liabilities, and jurisdictional Deputy/Assistant Commissioners accept LUT/bond filings.
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