- +91-9311795484
- info@taxhint.in
- NIT 5E-1 Kotak Mahindra Bank First Floor, Neelam Chowk, Faridabad, Haryana 121001, IND
We Provide Best Loan Management Software To Our Clients With Industry Best Integration And Features,
GST LUT Filing refers to the Goods and Services Tax (GST) Letter of Undertaking (LUT) Filing. It is a declaration filed by a taxpayer under the GST regime to export goods or services without paying any Integrated Goods and Services Tax (IGST). LUT allows businesses to claim a refund of the tax paid on inputs and capital goods used for exporting goods and services.
o file GST LUT (Letter of Undertaking) for export in India, log in to the GST portal, navigate to the “Services” section, and submit the application under the “LUT/ Bond” tab for export transactions. This enables exporters to make zero-rated exports without paying IGST.
There are no registration fees for filing a GST LUT (Letter of Undertaking). It is a free process facilitated by the GST portal. However, businesses must ensure they meet the eligibility criteria to file for an LUT.
GST LUT filing service charges typically depend on the service provider or professional hired. Charges can vary from ₹500 to ₹5,000 or more, based on the complexity and the professional assistance required. Some tax consultants may offer this service as part of a broader export-related package.
Hiring a GST consultant or professional ensures accurate filing and saves time, especially for businesses unfamiliar with the process. A professional will handle the entire process, from registration to submission, and ensure compliance with all GST regulations. The fee for such services varies based on the consultant or firm.
There are several affordable GST LUT registration services available in India, offering reasonable prices for GST registration and LUT filing. You can find budget-friendly consultants or online platforms that provide these services starting from ₹500, depending on the complexity of your export business.
Exemption from IGST Payment on Exports
Exporters can export goods and services without paying IGST, reducing upfront tax expenses.
Improved Cash Flow
By not paying IGST upfront, businesses can enhance their cash flow and reinvest savings into their operations.
Faster Refund Process.
LUT filing allows exporters to claim input tax credit (ITC) on purchases related to exports more quickly, speeding up the refund process.
Simplified Export Process
Filing the LUT simplifies the export process, eliminating the need to pay IGST and deal with lengthy refund procedures.
Ensures Legal Compliance
Filing the GST LUT ensures that exporters comply with GST regulations, helping avoid penalties and legal complications.
1. GST Registration Certificate
2. PAN Card
3. Bank Account Details
4. Proof of Business Activity
5. Financial Statements
6. GST Returns (GSTR-3B, GSTR-1)
7. Export Documents (if applicable)
GST LUT can be used for service exports to ensure exemption from IGST. This includes export of services such as consultancy, software, or any other business service. Filing GST LUT for service export ensures that IGST is not levied on services exported from India.
Fill up the Form to Complete the Payment
⟶
Our GST LUT Filing Experts will Call You
⟶
Upload the Details, Documents as requested
⟶
The Expert will Prepare and ask for Your Approval for GST LUT Filing
⟶
Filing of Your GST LUT will be Done!
👍
GST LUT (Letter of Undertaking) is a document filed by exporters to export goods and services without paying Integrated Goods and Services Tax (IGST). It is a declaration to comply with the tax regulations on exports.
Businesses engaged in exporting goods and services can file GST LUT. It is mandatory for exporters to file LUT instead of paying IGST, which can later be refunded.
GST LUT can be filed online through the GST Portal by logging into your GST account, filling out the required details, and submitting the form along with necessary documents.
The GST LUT is valid for one financial year. It needs to be renewed at the beginning of each new financial year if the business continues to export.
Yes, new exporters can file GST LUT. However, first-time exporters might need to provide additional supporting documents to verify their export activities.
To apply for GST LUT in India, log in to the official GST portal, navigate to the “Services” section, and select the “Letter of Undertaking” option. Fill in the required details and submit the application. Once approved, you’ll receive an acknowledgment
There is no specific deadline for filing GST LUT, but it should be done before initiating export transactions for the respective financial year. Typically, businesses are required to submit the LUT before the start of the financial year to ensure zero-rated export benefits.
Yes, you can file GST LUT after the due date; however, you must pay IGST on export transactions until your LUT is approved. The IGST paid can later be refunded after successful export, but it’s always better to file it on time to avoid delays and extra payments.
Yes, GST LUT is required for export of goods to avail zero-rated export benefits. The LUT ensures that you do not need to pay IGST at the time of export and helps you claim refunds later.
Yes, GST LUT is also required for the export of services under GST to ensure that the services are exported without paying IGST. Service exporters must file an LUT to enjoy the exemption from tax.
To cancel an approved GST LUT, log in to the GST portal, go to the “LUT” section, and request for cancellation. You’ll need to provide a reason for cancellation, and the request will be processed accordingly.
Yes, GST LUT can be filed without a bond. GST LUT is an alternative to the GST bond for exporters who meet the eligibility criteria. GST LUT allows exporters to export goods and services without paying IGST, without the need for a financial guarantee or bond.
If GST LUT is not filed, exporters must pay IGST on all export transactions. This amount can be refunded later, but the process can delay your cash flow. Not filing the LUT may also cause compliance issues with the GST authorities.
You can track the status of your GST LUT application by logging into the GST portal, going to the “Track Application Status” section, and entering your GSTIN and application details. The portal will show the current status, such as “Under Process” or “Approved”.
Welcome To Taxhint Advisors Private Limited
