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LUT under exports

Central Excise - Started By: - VENKATESH KARKERA - Dated:- 8-6-2016 Last Replied Date:- 9-6-2016 - Dear Sir,I am new to this TMI. I need a clarification regarding LUT for exports. We used to renew the LUT every year on Rs,100/- stamp paper. This year when we submitted the documents the excise officers refused to accept it. They asked us to prepare the LUT on ₹ 500/- stamp paper and asked us to get notary whereas earlier we used to get it signed by the range superintendent in lieu of notary .....

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be renewed every year. Board's circular is still in force. Regarding the stamp fee of ₹ 500/- instead of ₹ 100/- it depends upon the value of goods exported in a year and how much CE duty is involved in the exported goods in a year. In my view, your Range Officer is absolutely right. Pl. do not take it otherwise. Legal formalities are to be completed by you. Actually LUT is a relief for exporters as they are not to execute Bond with security or surety. Regarding the attestation .....

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ement/contract/LUT etc. is attested by the Notary Public, that document is registered with the Court. I want to say attestation by Notary Public is more important than the amount of stamp paper. After all we submit affidavit on stamp paper of ₹ 5/- or ₹ 3/-. This has legal backing also. This area is to be searched. Will you please throw more light ? It may be something slab wise. Looking forward to your advice. - Reply By MUKUND THAKKAR - The Reply = Dear Sanjay Malhotra sir,LUT is g .....

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s ? - Reply By Rajagopalan Ranganathan - The Reply = Sir, A perusal of the form UT-1 appended to Notification No. 42/2001-CE (NT) dated 26.6.2001 indicates that no where in the body of the format quantity of goods are likely to be exported and the duty involved on the same are required to be indicated. Therefore since the amount of duty involved on the quantum of excisable goods to be exported is not required to be indicated in UT-1 the letter of undertaking need not be be executed in a stamp pa .....

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ad mentioned as follows in point no - (17) for Article 28, the following Article shall be substituted, namely:- 28. CUSTOMS BOND OR EXCISE BOND, Five hundred that is to say, any bond given pursuant to the rupees. ; provisions of any law for the time being in force or to the directions of any officer of Custom or Excise for, or in respect of, any of the duties of Customs or Excise or for preventing frauds or evasions thereof or for any other matter or thing relating thereto . Further, in the minu .....

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