https://www.taxtmi.com/circulars?id=60858 Eligibility for a Letter of Undertaking (LUT) is extended to any registered person who received foreign inward remittances of at least 10% of export turnover and not less than one crore rupees in the preceding financial year, with status holders eligible irrespective of thresholds. LUTs are submitted on letterhead, must be processed within three working days by the jurisdictional Deputy/Assistant Commissioner, and self-declarations are acceptable unless contradicted. CT-1 is irrelevant under GST; supplies to EOUs are taxable; acceptance of LUT for Nepal, Bhutan or SEZs must comply with RBI rules. Bank guarantees generally capped at 15% may be waived in specified circumstances. en-us Mon, 14 Aug 2017 00:00:00 +0530 Thu, 09 May 2019 11:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=60858 Eligibility for a Letter of Undertaking (LUT) is extended to any registered person who received foreign inward remittances of at least 10% of export turnover and not less than one crore rupees in the preceding financial year, with status holders eligible irrespective of thresholds. LUTs are submitted on letterhead, must be processed within three working days by the jurisdictional Deputy/Assistant Commissioner, and self-declarations are acceptable unless contradicted. CT-1 is irrelevant under GST; supplies to EOUs are taxable; acceptance of LUT for Nepal, Bhutan or SEZs must comply with RBI rules. Bank guarantees generally capped at 15% may be waived in specified circumstances. Circulars GST Mon, 14 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/circulars?id=60858