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Filing of GST Letter Of Undertaking (LUT)

3950* Basic Package

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Overview

LUT is an acronym for Letter of Undertaking. It is a document that the exporters can file to export goods and services without paying any tax. As per the new GST regime, all exports subjected to IGST can claim a refund against the tax paid. But it involves a lot of hassles. So keeping the hassles in focus, an alternative option called LUT has been introduced by board. It eliminates all the blocking of funds by way of tax payments.

Under the CGST rules, 2017, any registered entity can file a LUT in form of GST and export goods without paying any integrated tax,

Entities that can apply for LUT in form GST   

As per the CGST rules, 2017 any registered entity can apply for LUT if they: 

1) They supply goods to India or overseas or the SEZs.

2) If they are registered under GST.

3) If any entities wish to supply goods without paying any integrated tax.

Key things to remember:

1) A LUT is valid for 12 months.

2) LUT is accepted only in certain conditions. If you fail to comply, then it may lead to revocation of the privileges associated with LUT.

3) Entities that are not eligible can also furnish a bond. But it must be on a non-judicial stamp paper with a bank guarantee.

Advantages

By applying for the LUT, an exporter can export goods to India or overseas without any paying any taxes.

LUT eliminates all the hassles for claiming a refund. It saves time to the exporters avoiding the route. The LUT frees up the working capital that is essential for SME exporters having fewer finances.

It also helps the exporters in other ways. Once you file a LUT, it remains valid throughout the entire financial year. The process acceptance has also been made easy. Exporters can now apply online with all the required documents.

Document Required

  • LUT cover letter with a request for acceptance duly signed
  • Copy of GST registration
  • Pan Card
  • KYC details of the authorized person
  • GST RFD 11 Form
  • Copy of IEC code
  • Canceled cheque
  • Authorized letter

Time Lines

  • (2 to 15 Days)
  • Purchase the Service
  • Upload / send the Documents
  • Discussion with expert
  • Filing of application with registrar authorities
  • Receipt of Acknowledgement
  • Confirmation to client

Service Covered

Pricing for what you want required service

Basic

3950*
  • Expert Consultation
  • GST LUT Filing

Business

7950*
  • Expert Consultation
  • GST LUT Filing
  • 3 months GSTR 1 return filing upto 25 invoice per month
  • 3 months GSTR 3B return

Enterprise

8950*
  • Expert Consultation
  • GST LUT Filing
  • 6 months GSTR 1 return filing upto 25 invoice per month
  • 6 months GSTR 3B return
  • Notes:
  • * This price is inclusive of all Govt filing fee and excluding GST amount.

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