https://www.taxtmi.com/circulars?id=61195 Clarification extends the Letter of Undertaking (LUT) facility to any registered person meeting foreign inward remittance thresholds (minimum ten percent of export turnover and not less than one crore rupees, higher amount applicable), with status holders exempted from these conditions. LUTs must be on letterhead and processed within three working days; CT-1 is irrelevant under GST and supplies to EOUs are taxable with EOUs eligible for zero-rating on exports. RBI-compliant rupee receipts for specified jurisdictions are permissible; bank guarantees should normally not exceed fifteen percent and may be waived; self-declaration and post-facto verification are acceptable. en-us Wed, 23 Aug 2017 00:00:00 +0530 Wed, 29 May 2019 14:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=61195 Clarification extends the Letter of Undertaking (LUT) facility to any registered person meeting foreign inward remittance thresholds (minimum ten percent of export turnover and not less than one crore rupees, higher amount applicable), with status holders exempted from these conditions. LUTs must be on letterhead and processed within three working days; CT-1 is irrelevant under GST and supplies to EOUs are taxable with EOUs eligible for zero-rating on exports. RBI-compliant rupee receipts for specified jurisdictions are permissible; bank guarantees should normally not exceed fifteen percent and may be waived; self-declaration and post-facto verification are acceptable. Circulars GST Wed, 23 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/circulars?id=61195