Letter of undertaking to replace Bank Guarantee for small exporters under GST

In continuation to my email below, please find attached the relevant notification extending the facility of furnishing of LUT to all exporters other than those who have been prosecuted for any offence under the Central Goods and Services Tax Act, 2017 (12 of 2017) or the Integrated Goods and Services Tax Act, 2017 (13 of 2017) or any of the existing laws in force in a case where the amount of tax evaded exceeds two hundred and fifty lakh rupees. This relaxation has been made applicable in case of zero-rated supplies to SEZ units/ developers as well. 


Also attached is a master circular issued by GST authorities in relation to waiver of bank guarantee for exports which reiterates aspects like format, validity, realisation, documents to be enclosed, etc.


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