Letter of Undertaking facility extended to exporters, subject to eligibility restrictions, authorised execution and tax-payment reinstatement conditions. The notification permits registered persons to furnish a Letter of Undertaking in lieu of a bond for export of goods or services without integrated tax, excluding persons prosecuted where tax evaded exceeds the prescribed threshold. The LUT must be submitted in duplicate on the registrant's letterhead in the annexure to FORM GST RFD 11 and executed by authorised signatories. The LUT becomes invalid if tax and interest are not paid within the rule specified period and resumes validity upon such payment; it also applies to SEZ supplies.
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Provisions expressly mentioned in the judgment/order text.
Letter of Undertaking facility extended to exporters, subject to eligibility restrictions, authorised execution and tax-payment reinstatement conditions.
The notification permits registered persons to furnish a Letter of Undertaking in lieu of a bond for export of goods or services without integrated tax, excluding persons prosecuted where tax evaded exceeds the prescribed threshold. The LUT must be submitted in duplicate on the registrant's letterhead in the annexure to FORM GST RFD 11 and executed by authorised signatories. The LUT becomes invalid if tax and interest are not paid within the rule specified period and resumes validity upon such payment; it also applies to SEZ supplies.
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