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Aug 16, 2017
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‘Letters of undertaking’ norms eased
The Finance Ministry has further liberalised norms for letters of undertaking (LUT) to help exporters facing difficulties consigning shipments on time under the Goods and Services Tax regime. The Central Board of Excise and Customs has now clarified that all registered exporters who have received remittances of Rs.1 crore or 10 per cent of export turnover in the previous fiscal year will be eligible for LUTs.
Source -
https://www.pressreader.com
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