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of <h1>Clarification on GST Bonds and LUTs for Exports in Manipur: Eligibility, Procedures, and Export Unit Transactions Explained.</h1> The circular clarifies issues related to furnishing Bonds or Letters of Undertaking (LUT) for exports under the GST framework in Manipur. It specifies eligibility criteria for using LUTs, extending the facility to all suppliers meeting certain foreign remittance thresholds. It outlines procedures for submission and acceptance of LUTs, emphasizing prompt processing. The circular also addresses the treatment of transactions with Export Oriented Units (EOUs), the use of bank guarantees, and jurisdictional responsibilities. It clarifies that LUTs are permissible for exports to Nepal, Bhutan, and SEZs, regardless of payment currency, provided RBI guidelines are followed. The circular applies to exports from July 1, 2017, onwards.
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