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    <title>Cancellation of LUT</title>
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    <description>Exporters may elect to pay tax instead of exporting under an accepted LUT; acceptance of LUT does not preclude payment. The LUT is valid for the financial year tendered but will be deemed withdrawn if exports are not made within prescribed timeframes and specified amounts are unpaid; payment restores the facility. While the LUT facility is withdrawn, exports must be on payment of integrated tax or under bond with bank guarantee.</description>
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      <description>Exporters may elect to pay tax instead of exporting under an accepted LUT; acceptance of LUT does not preclude payment. The LUT is valid for the financial year tendered but will be deemed withdrawn if exports are not made within prescribed timeframes and specified amounts are unpaid; payment restores the facility. While the LUT facility is withdrawn, exports must be on payment of integrated tax or under bond with bank guarantee.</description>
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      <law>GST</law>
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