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GST LUT Filing
LUT stands for Letter of Undertaking. The required details need to be furnished as per the prescribed format in the Form GST RFD-11 under Rule 96A. It is mandatory to furnish LUT to export goods or services or both without making IGST payment. If the exporter fails to provide the LUT, then he has to pay IGST or provide an export bond. Earlier LUT could only be filed offline at the concerned GST office. But to further ease the process the Government has made the LUT filing online.
ComplianceIndia can be your legal and professional partner in India to help you understand how to do GST LUT Filing in India quickly and cost-effectively.
Advantages of GST LUT filing
Exports without Tax payment
Capital Friendly for Business
An Entire Financial Year Validity
No monthly payment
Relaxation from Custom Duty
Easy and Convenient Online process
Eligibility for GST LUT Filing
A Business Entity or Seller Registered under GST is intending to supply goods/ services outside India or areas covered under Special Economic Zone without payment of Integrated GST.
Also, below-mentioned conditions need to be fulfilled for applying LUT Filing:
– There has never been the prosecution of the person under the Central Goods and Services Tax Act (CGST) or the Integrated Goods and Services Act (IGST) 2017 or any other existing laws where, the amount of tax levied exceeds Rs. 250 lakhs.
– The LUT shall be provided on the letterhead of the taxpayer registered under GST. It should be furnished in duplicate for a financial year. LUT is presented in the annexure to Form GST RFD-11 and can be issued by the partner, MD, Company Secretary or by the person duly signed by the company or the proprietor.
– If a person fails to pay the tax within the stipulated time as mentioned under the Central Goods and Services Act, the facility of exporting without payment of IGST is withdrawn till it is paid.
Jurisdiction for the submission of LUT
– The LUT shall be accepted by the Assistant or Deputy Commissioner having Jurisdiction over the place where the exporter does his business.
– The Exporter can furnish the LUT before any central or state officer till any specific administrative officer is assigned.
How we Work?
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Documents required for GST LUT filing
Validity of GST LUT filing
The LUT submitted is valid for the whole financial year in which it is submitted. For each financial year, a New LUT is required to be submitted.
Also note that:
a) If the goods for export are not exported within three months of date of Invoice issue, then the Exporter is liable to pay GST along with 18% interest within 15 days according to Section 50 (1).
b) If the payment for services are not received within one year for which the LUT has been submitted, then the Exporter is liable to pay GST @ 18% within 15 days.
Failing to do so will lead to withdrawal of LUT facility and on subsequent payments, it can again be restored.
Our Charges
Our charges for GST LUT filing starts from Rs. 2,999/-.
Frequently Asked Questions
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