CBEC Press Release dt 29.09.2017 on “Extending Facility of LUT to more exporters.”

                                                            PRESS RELEASE
29th September, 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.
2. The issue of cash blockage is expected to be partially addressed by this
measure. More measures are under consideration.

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