‘Let­ters of un­der­tak­ing’ norms eased

The Hindu Business Line - - FRONT PAGE -

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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