Expiry of LUT

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ashay

CA Final Student

418 Points Posted on 27 March 2015

Hi, We have been exporting goods under LUT, however the LUT is going to expire on 2nd April, the documents for renewal of LUT are already submitted with the excise authorities on 26th March, 15. I have the following queries in relation to the same :

1) Is there any stipulated time within which the renewed LUT will be received by us ?

2) What if the renewed LUT document is not received before 2nd April ?

3) Will we have to pay duty on export if renewed LUT is not received before 2nd April ?

4) Can a extension of the existing LUT be requested with the range office or Division office till the renewal of LUT ?

Please reply on urgent basis. Very IMP

Replies (2)

T E SOUNDARARAJAN

GM(FINANCE)

25 Points Posted on 27 March 2015

1. You cannot export without payment of duty during the intervening period.

2. You may in writing ask the excise officer inform that you wish to export without payment of duty and request them to ratify giving evidence of the LUT application filed by you. Usually LUT is granted from the expiry date if submitted well before the expiry date.

3.Normally LUT can be got in a day!!

regards

T.E.SOUNDARARAJAN