LUT under exports

[VENKATESH KARKERA]

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.

AI Summary

Letter of Undertaking formalities require annual renewal and proper attestation, with dispute over required stamp value and notary.
Letter of Undertaking for exports must be executed and renewed yearly with range officers responsible for verification. While LUTs relieve exporters from furnishing bonds, practice diverges on stamp duty and attestation: some officers require higher-value stamp paper and notary attestation for legal enforceability, others note the UT-1 format need not be on stamp paper. State stamp amendments and departmental notices have produced inconsistent requirements; the matter has been referred to legal section for clarification. Exporters should follow local officer directions until authoritative guidance is issued.