Apply GST LUT Filing
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The full form of LUT in GST is "Letter of Undertaking." Under the Goods and Services Tax (GST) regime in India, an LUT is a document that exporters file to export goods or services without paying taxes.
Validity of LUT (Letter of Undertaking)
Also in case of payment for services are not received within one year for which the LUT has been submitted, 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.
Annual Renewal: Ensure that you renew your LUT every financial year to maintain its validity. Deadline: The LUT for FY 2025-26 must be filed by March 31, 2025, or before making any export or SEZ supply in that financial year, whichever comes first.
Documents Required for GST LUT Registration
- GST Certificate: Copy of the GST registration certificate.
- ID Proofs: Identification documents of the authorized signatory.
- Financial Documents: Proof of fulfilling financial criteria.
- Previous LUT (if applicable): Copy of the previously accepted LUT.
To download a filed LUT certificate from the GST Portal, follow these steps:
- Visit the GST Portal and log in using your credentials.
- Navigate to the 'Services' tab, select 'User Services', and click on 'View My Submitted LUTs'.
- In the list of submitted LUTs, find the relevant LUT certificate.
Unleashing Export Potential with GST LUT Filing: A Guide to Boosting Competitiveness
Discover the game-changing impact of Goods and Services Tax (GST) on exports through savvy GST LUT filing. In India, GST has streamlined taxation by replacing multiple indirect taxes, presenting exporters with a unique opportunity for significant cost reduction and increased competitiveness on the international stage.
When businesses export goods or services, they can claim GST refunds on production inputs. The key to unlocking these benefits is efficient GST LUT filing. The Letter of Undertaking is a commitment from exporters to comply with GST Act conditions, paving the way for streamlined tax processes.
To kickstart this process, exporters need to register on the GST portal. Using Form GST RFD-11, the GST LUT is seamlessly filed electronically on the portal, with an annual renewal requirement for its one-year validity.
Embracing GST LUT filing is a strategic move for exporters. By sidestepping upfront tax payments, businesses can significantly slash export costs. This not only streamlines processes but also propels Indian goods and services to the forefront of global competitiveness, making it an indispensable tool for businesses eyeing success in international markets.
Documents Required
Explore the advantages of leveraging the GST Letter of Undertaking (LUT) for seamless GST return filing. Discover how this simple online form can enhance your business performance and boost your global competitiveness.
Enhance Your Cash Flow: By eliminating upfront tax payments during export, businesses can experience a significant boost in working capital, leading to improved cash flow management.
Streamlined Export Process: The GST LUT simplifies the export procedure, saving valuable time and effort. Say goodbye to the complexities of upfront tax payments and streamline your international trade operations.
Effortless Application Process: Applying for tax exemptions on exports has never been easier. The user-friendly online GST LUT form ensures a hassle-free experience for businesses seeking to optimize their tax benefits.
Boost Your Revenue: Enjoy the financial benefits of GST exemptions on exported goods and services. This opens up new revenue streams and enhances your market competitiveness on a global scale.
Ensure Legal Compliance: Submitting a GST LUT is your assurance of adhering to GST laws and regulations. Avoid legal complications and penalties, ensuring a smooth and legally sound export process.
Tax-Free Exports: With GST LUT, export goods or services without the burden of GST payments. Lowering the cost of your offerings makes your business more attractive and competitive in the international market.
Quick Refund Processing: Experience faster processing of refund claims with GST LUT. Accelerate the return of funds, improving your cash flow and overall financial efficiency.
Unlock the full potential of your business with the strategic utilization of GST LUT. Simplify processes, boost cash flow, and stay ahead in the global market.
Required Documents for GST Letter of Undertaking (LUT) Filing
GST Registration Certificate
Import Export Code (IEC)
2 Nominees/Witness (Mandatorily 1 Employed Accountant)
PAN & Aadhaar Card of the Business Owners
Bank Credential (Canceled Cheque)
PAN details of the Business Entity