Letter of Undertaking eligibility for bond waiver in exports without integrated tax, subject to remittance and prosecution safeguards. Registered persons may furnish a Letter of Undertaking in place of a Bond for exports without payment of integrated tax if they are either a status holder under the Foreign Trade Policy or have received the prescribed foreign inward remittances in the preceding financial year, and have not been prosecuted where tax evasion exceeds the specified monetary threshold. The LUT must be submitted in duplicate for the financial year in the annexure to FORM GST RFD-11 and executed on the registered person's letterhead by the working partner, Managing Director, Company Secretary, Proprietor or an authorised person.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Letter of Undertaking eligibility for bond waiver in exports without integrated tax, subject to remittance and prosecution safeguards.
Registered persons may furnish a Letter of Undertaking in place of a Bond for exports without payment of integrated tax if they are either a status holder under the Foreign Trade Policy or have received the prescribed foreign inward remittances in the preceding financial year, and have not been prosecuted where tax evasion exceeds the specified monetary threshold. The LUT must be submitted in duplicate for the financial year in the annexure to FORM GST RFD-11 and executed on the registered person's letterhead by the working partner, Managing Director, Company Secretary, Proprietor or an authorised person.
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