Key Highlights of Circular No. 40/14/2018-GST dated 6th April, 2018

Recently through circular no. 40/14/2018- GST, it has been clarified by Central Board of Indirect Taxes and Customs that the Exporters shall file LUT in FORM GST RFD-11 online on the GST portal only. An LUT shall be deemed to be accepted as soon as ARN is generated online. In such case no document needs to be physically submitted to the jurisdictional office for acceptance of LUT. Provided, if it is discovered that an exporter whose LUT has been so accepted, was ineligible to furnish an LUT in place of bond as per Notification No. 37/2017-Central Tax, then the exporter’s LUT will be liable for rejection and the said LUT shall be deemed to have been rejected ab initio.