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Easy Guide to Filing LUT in GST for Exporters
If you’re an exporter, the GST LUT (Letter of Undertaking) is a key document that lets you export goods or services without paying Integrated Goods and Services Tax (IGST) upfront. COMPLIANCE INDIA makes the process of filing the LUT super simple, so you can focus on growing your export business.
Why Choose COMPLIANCE INDIA for LUT Filing?
Filing an LUT can be tricky, but COMPLIANCE INDIA makes it easy. Our team of experts knows all the GST rules and will help you:
• Prepare and submit the GST RFD-11 form correctly.
• Handle all documents and ensure everything is compliant.
• Save time and effort so you can focus on your exports.
With COMPLIANCE INDIA, you get end-to-end support for a smooth and hassle-free LUT filing process.
Get Started with COMPLIANCE INDIA
Ready to file your LUT and make exporting easier? Contact COMPLIANCE INDIA today! We’ll guide you through the entire process, from gathering documents to submitting the form online. Start your tax-free export journey with us and grow your business without worries!
LUT stands for Letter of Undertaking. It’s a document that allows exporters to send goods or services out of India without paying IGST at the time of supply. This makes exporting easier and saves you from paying tax first and then claiming a refund later.
All registered exporters must file an LUT using the GST RFD-11 form on the GST portal to export without paying IGST. You can file an LUT if:
• You’re a registered taxpayer under GST.
• You plan to export goods or services to foreign countries or Special Economic Zones (SEZs) without paying IGST.
• You haven’t been prosecuted for tax evasion involving more than ₹2.5 crore.
An LUT is valid for one financial year, so you need to file a new one every year. If you don’t meet the LUT conditions, you may lose the privilege and have to provide a bond instead. A bond is needed when:
• You export goods or services to foreign countries without paying IGST.
• You supply to SEZs without paying IGST.
If you’re not eligible for an LUT, you can still export by submitting a bond with a bank guarantee.
To file an LUT under GST, you’ll need these documents:
• LUT Cover Letter: A signed request letter from an authorized person.
• GST Registration Copy: Proof that your business is registered under GST.
• PAN Card: PAN card of your business.
• KYC of Authorized Person: ID and address proof of the person signing the LUT.
• GST RFD-11 Form: The official form for LUT filing.
• IEC Code Copy: If you’re exporting goods or services.
• Cancelled Cheque: From your business bank account.
• Authorized Letter: A letter giving authority to the person signing the LUT.
Filing an LUT makes exporting easier and comes with these advantages:
• No Tax Upfront: Export without paying IGST, saving you from claiming refunds later.
• Saves Time: Avoid the hassle of refund processes and follow-ups with tax authorities.
• Frees Up Money: Money that would be stuck in tax payments stays available for your business.
• Valid for a Year: Once filed, the LUT works for the whole financial year, so you don’t need to keep filing repeatedly.
• More Focus on Business: With less paperwork, you can focus on growing your exports.
• Validity: An LUT is valid for one financial year. You need to file a new one each year.
• Conditions: If you don’t follow the LUT rules, you may need to provide a bond instead.
• Bond Option: If you can’t file an LUT, you can submit a bond on non-judicial stamp paper with a bank guarantee (up to 15% of the bond amount).
• Letterhead: The LUT must be on your business’s official letterhead.
• Form: Use the GST RFD-11 form for filing, signed by an authorized person like the MD, company secretary, partner, or proprietor.
• Bank Guarantee: The GST Commissioner may waive the bank guarantee in some cases.
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