Letter of Undertaking allowed in place of bond for zero rated exports subject to eligibility, execution, and payment safeguards. Conditions for furnishing a Letter of Undertaking in lieu of a bond for exports without payment of integrated tax: registrants are eligible except those prosecuted for offences involving high-value tax evasion; the LUT must be furnished on letterhead, in duplicate, in the annexure to FORM GST RFD 11 and executed by an authorised signatory. Failure to pay tax plus interest within the specified period withdraws the facility, and payment restores it. The same conditions apply to zero-rated supplies to SEZ developers or units. The notification supersedes the earlier notification and is effective from the stated operative date.
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 allowed in place of bond for zero rated exports subject to eligibility, execution, and payment safeguards.
Conditions for furnishing a Letter of Undertaking in lieu of a bond for exports without payment of integrated tax: registrants are eligible except those prosecuted for offences involving high-value tax evasion; the LUT must be furnished on letterhead, in duplicate, in the annexure to FORM GST RFD 11 and executed by an authorised signatory. Failure to pay tax plus interest within the specified period withdraws the facility, and payment restores it. The same conditions apply to zero-rated supplies to SEZ developers or units. The notification supersedes the earlier notification and is effective from the stated operative date.
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