GST : LUT Facility in place of Bond extended to more exporters , No bank guarantee required 

By | September 30, 2017
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(Last Updated On: September 30, 2017)

Facility of furnishing Letter of Undertaking extended to more exporters

Small exporters have brought to the notice of the Government the difficulties in furnishing bond with requisite bank guarantee. To facilitate exports under GST, it has been decided that the facility of furnishing Letter of Undertaking, in place of a bond, for exporting goods or services or both shall be allowed to exporters and no bank guarantee will be required.The relevant notification for this shall be issued in due course.

The issue of cash blockage is expected to be partially addressed by this measure. More measures are under consideration.

Ministry of Finance 30-September, 2017

 

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