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Letter or Undertaking or LUT is a certificate, that is supposed to be furnished under rule 96A in form GST RFD 11. This certificate is mandatory for the export of goods and services without the payment of Integrated Taxes. In case an exporter does not have LUT certificate, then the export can only take place after the payment of the IGST or by furnishing an export bond. LUT is important and that’s why, All India ITR’s this plan will help you in getting LUT without any hassle. Just buy this plan and our Tax Experts will guide you through the process.
LUT will be provided online.
Companies or the individuals who are involved in the export of Goods and Services can buy this plan.
Letter of Undertaking or LUT is valid for one Financial Year. For eg: If LUT is furnished in FY 2017-18, then the date of expiry of the LUT is 31st March 2018.
By furnishing LUT Certificate, you can export the goods and services without paying IGST.
There are two ways possible to export under GST, one is to export with payment of GST and second is to export without the payment of GST. In order to choose second option, you need to file the bond or LUT on the GST Portal online, stating that you will fulfil all the export requirements.
Filing of bond or LUT depends upon the total foreign receipts in the previous year. If you have received more than 1 Cr foreign exchange then you are required to file LUT instead of bond. Bond is required to be filed in following three cases.
Yes, you can file your LUT online by visiting the official GST Portal. Earlier, the LUT filing process was offine.
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