GST LUT

Are you an exporter of goods/ services? Do you wish to export without payment of GST? Furnish letters of undertaking with the help of experts!

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GST LUT ( LETTER OF UNDERTAKING )

The Letter of Undertaking (LUT) is required to be furnished in form GST RFD 11 under rule 96A, on the common portal of GSTN in order to make exports without payment of IGST. The LUT is valid for a period of twelve months from the date of submission. The exporter is also entitled to claim refunds of input tax credit.

Alternatively, the exporter can also proceed by paying applicable GST and filing a claim for refund at after the export. 

Currently provisional refunds are granted upto 90% of the claimed amount within 7 days of application.*   

* subject to documentation being complete  

LUT

Export Bond for GST

Entities which not eligible to submit Letter of Undertaking (LUT) have to furnish an export bond along with bank guarantee. The bond amount should  atleast be equivalent to the estimated tax liability involved in the export as assessed by the exporter.

RUNNING BOND

By furnishing a running bond, the exporter does not have to furnish bond a every time. However, if the outstanding tax liability on exports exceeds the bond amount at any time, then the exporter has to top up the additional liability.

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