Now Letter of Undertaking can be furnished by any exporter
taxgrid
October 4, 2017
Now Letter of Undertaking can be furnished by any exporter2017-10-04T18:34:12+05:30
official clarifications
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Notification No. 37 /2017 – Central Tax has been issued whereby it has been notified that now the Letter of Undertaking can be furnished by any registered person in place of a bond. Earlier as notified in Notification No. 16/2017 – Central Tax, the following persons were eligible to issue LUT:
(a) a status holder as specified in paragraph 5 of the Foreign Trade Policy 2015- 2020; or
(b) who has received the due foreign inward remittances amounting to a minimum of 10% of the export turnover, which should not be less than one crore rupees, in the preceding financial year
Now the new notification issued by CBEC extends the facility to all and seems to be a great relief to many exporters.
Read the Notification below:
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