Letter of Undertaking (LUT): All registered taxpayers exporting goods or services must submit a Letter of Undertaking (LUT) in GST RFD-11 form on the GSTN portal to export without payment of IGST. The LUT must be filed online before exporting goods or services.
If you are in the import-export business, filing an LUT is a great way to get an exemption from paying GST.
Benefits of Filing LUT:
Due Date and Validity of LUT:
Extension in Filing Deadline: For FY 2020-21, the CBIC extended the time limit for filing the LUT from 31st March 2020 to 30th June 2020. Exporters can continue to supply without paying tax under LUT provided they file GST RFD-11 by 30.06.2020. They can reference the LUT from the previous year in their documents.
Our Compliance Manager will contact you to gather your documents along with a simple checklist. You will need to complete the checklist and submit it with your documents for processing. Afterward, we will proceed with preparing the form for the LUT.
Once we have reviewed and verified all the details and documents you provided, we will prepare the LUT form for the relevant financial year. After filing, the Letter of Undertaking will be submitted and signed using your DSC, and you will be notified via email or SMS.
After submitting the Letter of Undertaking, you will receive an email or SMS on your registered mobile number. You can download the acknowledgment by clicking the "DOWNLOAD" option. We will also generate an acknowledgment for your reference.
All registered taxpayers who export goods or services are required to file the Letter of Undertaking (LUT) to make exports without payment of Integrated GST (IGST).
No, an LUT is valid only for one financial year. A new LUT must be filed at the beginning of each financial year.
The LUT application must be signed by the authorized signatory of the company, which could be the proprietor, director, or any authorized person with the power to sign.
Once the LUT is successfully submitted, you will receive an acknowledgment via email or SMS on your registered contact details. You can also download the acknowledgment from the portal.
Yes, even if the LUT is manually approved, it must be recorded in the online system for official compliance.
Failure to file LUT can lead to the requirement to pay IGST on exports and the inability to claim refunds of GST paid on input supplies. This can result in additional financial burden.
We offer our services to clients across all major cities in India, including Bangalore, Delhi, Mumbai, Chennai, Hyderabad, Pune, and many more.
If you have any more questions or need further clarification, feel free to contact us for expert guidance and assistance.
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