Friday, 6 April 2018

No document needs to be physically submitted to the jurisdictional office for acceptance of LUT

By virtue of circular No. 40/14/2018, issued on April, 6, 2018, major relaxation was granted from submitting the documents manually to the jurisdictional office for acceptance of LUT. Now, making the partial modification of circular no. 8-8-2017, GST dated 04-October-2017, sub-paragraphs C, D & E of para no.2 of the said Circular are replaced by the following:-

“c) Form for LUT: The registered person (exporters) shall fill and submit FORM GST RFD-11 on the common portal. An LUT shall be deemed to be accepted as soon as an acknowledgement for the same, bearing the Application Reference Number (ARN), is generated online. 

d) Documents for LUT: No document needs to be physically submitted to the jurisdictional office for acceptance of LUT. 

e) Acceptance of LUT/bond: An LUT shall be deemed to have been accepted as soon as an acknowledgement for the same, bearing the Application Reference Number (ARN), is generated online. If it is discovered that an exporter whose LUT has been so accepted, was ineligible to furnish an LUT in place of bond as per Notification No. 37/2017-Central Tax, then the exporter’s LUT will be liable for rejection. In case of rejection, the LUT shall be deemed to have been rejected ab initio.”

So, by this circular, exporters have got very big relief in getting the LUT renewal / fresh / furnishing of bond.

Download the notification from here -> CLICK HERE

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