The Hindu Business Line

‘Letters of undertakin­g’ norms eased

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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 ₹1 crore or 10 per cent of export turnover in the previous fiscal year will be eligible for LUTs.

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