Letter of Undertaking for exports clarified under GST, including eligibility, validity, bond requirements and filing procedure. Clarification is issued on furnishing of Bond and Letter of Undertaking (LUT) for exports without payment of integrated tax under the Assam GST framework. The facility of export under LUT is extended to all registered persons, except those prosecuted for specified offences where the tax evaded exceeds the prescribed threshold. The LUT remains valid for the financial year in which it is furnished, but the facility is withdrawn if export is not completed within the stipulated time and the related amount is not paid; it is restored on subsequent payment, and exports during the intervening period require payment of integrated tax or a bond with bank guarantee.
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Provisions expressly mentioned in the judgment/order text.
Letter of Undertaking for exports clarified under GST, including eligibility, validity, bond requirements and filing procedure.
Clarification is issued on furnishing of Bond and Letter of Undertaking (LUT) for exports without payment of integrated tax under the Assam GST framework. The facility of export under LUT is extended to all registered persons, except those prosecuted for specified offences where the tax evaded exceeds the prescribed threshold. The LUT remains valid for the financial year in which it is furnished, but the facility is withdrawn if export is not completed within the stipulated time and the related amount is not paid; it is restored on subsequent payment, and exports during the intervening period require payment of integrated tax or a bond with bank guarantee.
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