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Gst Lut Filling

LUT under GST

GST LUT is to be furnished by all GST registered goods and service exporters. Exporters who have been prosecuted for any offense under the CGST Act or the Integrated Goods and Services Act, 2017 or any existing law and for tax evasion of more than Rs 250 lakh, are not eligible to file GST LUT.

Eligibility for Filing LUT in GST

Who can use a Letter of Undertaking (LUT)?

Any registered taxpayer who is exporting goods and services can use the letter of undertaking. Any person who has been prosecuted for tax evasion for an amount of Rs. 250 lakh or more are ineligible.

The validity of such LUT is for one year, and an exporter is required to furnish a fresh LUT for every financial year. If the conditions mentioned in the LUT are not satisfied within the specified time frame, the privileges will be canceled, and the exporter will have to submit the bond.

If the export is being made without payment of IGST then other assessees should furnish the bond. LUT/Bond can be used to:

  • Zero-rated supplies to SEZs without payment of IGST
  • Export of goods to a country outside India without payment of IGST.
  • It is rendering services to a customer in a country outside India without paying IGST.

Gst Lut Filling.

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