TMI BlogExport of Services without renewal of Bond for export and without having LutX X X X Extracts X X X X X X X X Extracts X X X X ..... Dear Sir, We are doing business of IT export services in Mohali, Punjab. Our company has taken 'Acceptance of Bond' letter from Central excise dept date 22.9.2017 with bank guarantee which was valid up to 31.8.2018. We have taken Lut on 28.9.2018. We continue to export after 31st March 2018 till August 2018 on basis of bank guarantee and it was not in our knowledge to renew the bond aft ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er 31st March 2018 because validity period was not mentioned on 'Acceptance of Bond' letter . My question is - What is validity period of 'Acceptance of Bond' ?. Do we have to pay any penalty for export we did from April 2018 to August 2018 without renewal of Bond ?. Please share your valuable inputs. Thanks in advance. Regards, Balkar Singh - Reply By CASeetharaman KC - Th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e Reply = Letter of Undertaking has to be provided for each financial year separately. Now LUTs are provided online and the period would be from April to March. You can even upload it onlineo now. Also there is a place where the old LUT which was provided by you and approved by the department can be uploaded.This will help you to prove that the online LUT now provided is a continuation of the ea ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rlier one. - Reply By Ganeshan Kalyani - The Reply = In my view, IGST is payable in the absence of Letter of Undertaking (LUT). Thereafter, refund can be applied for the IGST paid. - Reply By KASTURI SETHI - The Reply = I support the views of both experts. - Export of Services without renewal of Bond for export and without having Lut - Query Started By: - Balkar Singh Dated:- 15-2-2019 Goods ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and Services Tax - GST - Got 3 Replies - GST - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
