GST: Key changes in the last 100 days

Here is a look at the major changes we saw since GST got implemented

Govt extends letter of undertaking (LuT) facility to small exporters

Initially the option of exporting under the LuT was made available only to certain specified exporters. Accordingly, such exporters could export goods/ services without payment of tax. However, small exporters were required to obtain a bond on furnishing of bank guarantee to export goods/ services without payment of taxes, leading to blockage in working capital.

To facilitate exports, the government decided that the facility of LuT, in place of a bond, for exporting goods or services shall be allowed to exporters.

Benefits for exporters

Following complaints by exporters of credit