Dear Sir,
I am new to this TMI. I need a clarification regarding LUT for exports. We used to renew the LUT every year on Rs,100/- stamp paper. This year when we submitted the documents the excise officers refused to accept it. They asked us to prepare the LUT on ₹ 500/- stamp paper and asked us to get notary whereas earlier we used to get it signed by the range superintendent in lieu of notary. Can i get exactly what is the current status of LUT. Are the excise officers correct, if yes, can i get any notification or circulars regarding the same.
Debate Over Stamp Duty for Letter of Undertaking: Is 500 Stamp Paper with Notary Necessary for Exports? An individual sought clarification on the use of a Letter of Undertaking (LUT) for exports, traditionally renewed annually on a 100 stamp paper. Recently, excise officers demanded it be prepared on a 500 stamp paper with notary attestation, differing from past practices. Responses indicated that the requirement for a higher stamp fee might depend on the value of exported goods and excise duty involved. Some argued that LUT could be executed on plain paper, while others cited legal backing for using a 500 stamp paper. The discussion highlighted discrepancies in practices and sought further clarification. (AI Summary)
TaxTMI 
TaxTMI 
TaxTMI 
