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GST LUT Filing

GST LUT (Letter of Undertaking) Filing Online

With GST LUT Filing from our Specialised Taxation Team at Legal Unison, Launch Your Export Business in the Foreign Market | Get Approval Quickly.

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OVERVIEW
Goods and Services Tax (GST) is a comprehensive indirect tax that has replaced many indirect taxes in India. It is a destination-based tax, which means that it is levied at the point of consumption, rather than at the point of origin. The GST LUT (Letter of Undertaking) filing is a process that enables exporters to carry out their business operations without paying any tax.
When a business exports goods and services, it is entitled to claim a refund of the GST paid on the inputs used in the production of those goods or services. However, in order to claim this refund, the business must first furnish a GST LUT. The LUT is a bond that is furnished by the exporter, which declares that the exporter will fulfill all the conditions and requirements prescribed under the GST Act.
In order to file a GST LUT, the exporter must first register on the GST portal. Once registered, the exporter can file the LUT electronically on the GST portal by submitting a Form GST RFD-11. The LUT will be valid for a period of one year and must be renewed annually.
The GST LUT filing is a beneficial option for exporters, as it allows them to conduct their business without having to pay any tax upfront. This helps in reducing the cost of exports and improves the competitiveness of Indian goods and services in the international market.

services

Filing a GST Letter of Undertaking (LUT) with the Government of India has several advantages for businesses engaged in international trade. Some of the key benefits of filing a GST LUT include:

Exemption from paying Integrated Goods and Services Tax (IGST): Businesses that file an LUT are exempted from paying IGST on the export of goods and services. This helps them to save costs and remain competitive in the global market.
Faster processing of exports: Filing an LUT eliminates the need for businesses to pay IGST and then claim a refund, which can be a time-consuming process. This helps to expedite the export process and reduce administrative hassles.
Improved cash flow: By eliminating the need to pay IGST and claim a refund, businesses can improve their cash flow and reinvest their capital in other areas of the business.
Enhanced compliance: Filing an LUT is a compliance requirement for businesses engaged in export of goods and services. By complying with this requirement, businesses can avoid penalties and legal hassles.
Increased credibility: Filing an LUT demonstrates a business's commitment to compliance and adherence to regulatory requirements. This can enhance the credibility of the business in the eyes of customers, suppliers, and investors.

Documents Required

Vision

  • GST Registration Certificate
  • PAN Card of the Authorized Signatory
  • Address Proof of the Authorized Signatory (such as Aadhaar Card, Passport, Voter ID, Driving License, etc.)
  • Bank Account Details of the Company/Firm
  • Copy of the Previous Year’s LUT (if any)
  • Import Export Code (IEC)
  • 2 Nominees/Witness (Mandatorily 1 Employed Accountant)

PRICING PLAN

GST LUT Filing

Rs.1999

  • GST LUT Filing
  • Assign Dedicated GST Expert
  • Call, Chat, Email support

OUR PROCESS

  1. Fill the Easy form & Make the payment

  2. Get the Call from GST Expert

  3. Prepare all documents and  send you the draft for review.

  4. Upload the all Required Documents on Govt. Portal

  5. Congratulations! Your GST LUT Filing has been Done.

FAQ

  • Q1.What is GST LUT filing?

     GST LUT (Letter of Undertaking) filing is a process where exporters in India can submit a form to the GST (Goods and Services Tax) department, stating their intention to export goods or services without paying GST.

  • Q1.Who is required to file GST LUT?

    Exporters who wish to supply goods or services without paying GST are required to file GST LUT.

  • Q1.Is GST LUT mandatory for all exporters?

    No, it is not mandatory for all exporters. GST LUT is applicable only to those exporters who meet certain conditions, such as having a clean track record of tax payments.

  • Q1.How can I file GST LUT?

    GST LUT can be filed online through the GST portal by providing all the required details and documents.

  • Q1.What documents are required for GST LUT filing?

    The documents required for GST LUT filing may vary depending on the nature of the business and the type of export. However, commonly required documents include PAN card, GST registration certificate, bank account details, and a letter of undertaking.

  • Q1.Is there a fee for filing GST LUT?

    No, there is no fee for filing GST LUT.

  • Q1.What is the validity period of GST LUT?

     The validity period of GST LUT is one financial year.

  • Q1.Can I cancel or modify my GST LUT after filing?

    Yes, you can modify or cancel your GST LUT after filing by submitting a new form with the updated information or requesting for cancellation.

  • Q1.What happens if I do not file GST LUT?

     If you do not file GST LUT and export goods or services, you will have to pay GST on the exports, which will increase your costs and reduce your competitiveness in the international market.

  • Q1.What are the consequences of non-compliance with GST LUT filing?

    : Non-compliance with GST LUT filing can lead to penalties, fines, and legal action by the GST department. It can also affect your business reputation and credibility in the market.

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