GST LUT Filing

LUT MEANS LETTER OF UNDERTAKING IN GOODS AND SERVICE TAX ACT WHICH IS NECESSARY TO BE FURNISHED OR SUBMITTED BY ALL THE REGISTERED TAXPAYERS WHO IS DOING TRANSACTIONS INVOLVING EXPORT OF THE TAXABLE GOODS OR TAXABLE SERVICES IN FORM GST RFD-11 ONLINE ON THE GST NETWORK WITHOUT ANY PAYMENT OF INTEGRATED GOODS AND SERVICE TAX (IGST).

THE EXPORTERS WHO HAVE BEEN PROSECUTED FOR ANY OFFENCE AND THE AMOUNT OF EVASION OF TAX EXCEEDS RUPEES 250 LAKHS UNDER THE CGST ACT OR IGST ACT 2017 OR UNDER ANY EXISTING LAWS  ARE NOT ELIGIBLE FOR TAKING THE BENEFIT OF FURNISHING LUT FOR EXPORT GOODS OR SERVICES WITHOUT PAYMENT OF IGST.

IN CASE EXPORTER IS NOT ELIGIBLE TO FILE LETTER OF UNDERTAKING THEY HAVE TO FURNISH AN EXPORT BOND BEFORE EXPORT PROCEDURE. IN THIS CASE THE EXPORTER HAVE TO PAY IGST BEFORE EXPORT AND AFTER ALL THE TRANSACTIONS THEYCAN CLAIM THE REFUND OF THEIR PAID TAX.

IN LETTER OF UNDERTAKING(LUT) THE EXPORTER BASICALLY DECLARE THAT THEY ARE ELIGIBLE TO FULFILL ALL THE REQUIREMENTS PRESCRIBED UNDER GOODS AND SERVICE TAX ACT IN THIS REGARD WHILE DOING EXPORT WITHOUT PAYMENT OF IGST.

THE VALIDITY OF LUT IS TWELVE MONTHS PERIOD FROM THE DATE OF SUBMISSION.IN CASE OF NOT COMPLYING THE PROVISIONS AND CONDITIONS OF THE LUT, ALL PRIVELEGES PREVIOUSLY PROVIDED BY THE DEPARTMENT HAS BEEN REVOKED AND NOW THE EXPORTER HAVE TO PRESENT THE EXPORT BOND BEFORE THE EXPORT.

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