GST LUT Filing for Exporter
Select Package
Onward
A Letter of Undertaking (LUT) is a document that exporters can file to export goods or services without having to pay taxes. Under the new GST regime, all exports are subject to IGST, which can later be reclaimed via a refund against the tax paid.
Let’s Talk
GST LUT Filing for Exporter
An LUT spares exporters the effort of pursuing a refund and eliminates the blocking of funds by way of tax payments. Under CGST Rules, 2017, any registered person can furnish a bond or LUT in form GST RFD 11 and export goods without the payment of integrated tax.
Basic Eligibility Criteria for Obtaining LUT:
- Should be registered under GST
- Should be supplying the goods overseas or SEZs
- Supplying goods without paying IGST
Conditions for LUT filing:
- The Taxpayer applying for LUT must not be prosecuted offence under the CGST Act or the IGST Act, 2017, or any other existing laws.
- The tax amount evaded by individuals who have been booked under the CGST or IGST Act must not exceed 2.5 Crores.
- If the taxpayer fails to pay the tax within the given time according to the Central Goods and Services Act, the facility of exporting without payment of IGST is withdrawn till it is paid.
Documents Required for GST LUT Filing
- LUT cover letter-request for acceptance-duly signed by MD or CS or any other authorised person
- GST Registration Certificate
- Pan Card of the organisation
- KYC of authorised person
- GST RFD 11 form
- IEC code, if available
- Cancelled Cheque
Benefits of filing LUT – for Exporters
- Exporter can export goods and services without having to pay taxes.
- LUT saves lot of time for exporters so that they don’t have to go to the trouble of claiming a refund or following up with the IT department.
- LUT is also beneficial for regular exporters, once filed it remains valid for the entire financial year.
Standard Other Registrations or Licences We Provide
PAN Registration
A PAN or Permanent Account Number is an important document all taxpayers must possess, as mandated in the Income Tax Act of 1961.
Learn More
Trademark Registration
A trademark is a unique symbol or word(s) used to represent a business or its products. Once registered, that same symbol or series of words cannot be used by any other organisation, forever, as long as it remains in use and proper paperwork and fees are paid.
Learn More
Shops & Commercial Establishment Registration
Shop act registration is to be taken compulsorily to start business establishment. Details of personal employed are to be given on yearly basis.
Learn More
Professional Tax Registration
Professional Tax Registration is levied by Municipal Corporations of various states in India. People who carry the profession such as CA (Chartered Accountant), Lawyers, Doctors, Business Owners etc need to pay these taxes. The owner of a business is responsible to deduct professional tax from the salaries of its employees.
Learn More
Udyog Aadhar (MSME) Registration
MSME Registration helps you to receive payment on time from large companies as they have to pay MSME Vendor within 45 days. Plus, you get benefit at the time of taking a loan in form of concessional rate of interest.
Learn More
GST Registration
Any person or entity supplying goods or services in India above the aggregate turnover limit (INR 20L for Service and INR 40L for Goods) is mandatorily required to obtain GST registration. For certain businesses such as Interstate Supply, E-Commerce Operators registration under GST is mandatory irrespective of turnover limit.
Learn More
TAN Registration
The Tax Deduction and Collection Account Number (TAN) is required for people who are deducting or collecting tax at source. Anyone paying a salary or commission is required to get a TAN.
Learn More
FSSAI Registration
Every food business operator (FBO) involved in the manufacturing, processing, storage distribution and sale of food products must compulsorily obtain FSSAI Registration or License. FSSAI Registration is different from FSSAI License in the sense that depending on the size and nature of the business, FBO should obtain the necessary registration or license.
Learn More