GST LUT Filling
What is GST LUT?
Letter of Undertaking – prescribed to be furnished in the form GST RFD 11 under rule 96 A, where the exporter shall declare that he or she will fulfil all the requirement that is prescribed under GST while exporting without making IGST payment, on the common portal of GSTN.• Exports without tax payment - An exporter can export goods or services without paying the taxes.
• Saves Working Capital.
• An Entire Financial Year Validity.
• Simple and online process.
1. What happens if LUT is not filed as per the schedule fixed?
The exporter must first pay the required tax while making exports and then claim a refund to avail benefit of zero-rated exports.
2. Is it mandatory to mention LUT number on invoice?
Export without payment of GST, it should be mentioned on the invoice as “Supply meant for export under LUT without payment of IGST”
3. Who can be witness for LUT in GST?
Primary authorized signatory needs to sign and file with DSC/EVC.