CBEC Clarification on issues related to furnishing of Bond/ Letter of Undertaking (LUT) for Exports
With reference to submission of Bonds/ Letter of Undertaking for Exports, the CBEC has so far issued Notification No. 16/2017 GST dt. 7 July, 2017; Circular No. 2/2/2017 GST dt. 5 July, 2017 and Circular No. 4/4/2017 GST dt. 7 July, 2017. However, CBEC is in receipt of many issues thereon from the concerned stakeholders.
Accordingly, the CBEC has clarified various issues relating to furnishing of Bond/ Letter of Undertaking (LUT) in connection with Exports under the GST Regime, as confusions were prevailing among the exporters on various issues and circulars/ notifications thereon, as under:
CBEC Circular No. 5/5/2017 Central Tax dt. 11 Aug. 2017 rescinded by CBEC Circular No. 8/8/2017 Central Tax dt. 4 Oct. 2017, as under: