LUT
This query is : Resolved
07 September 2020
WE SUPPLY GOODS TO MERCHANT EXPORT @ 0.1%. IS IT COMPULSORY FOR US TO TAKE LUT OR WE DOES NOT WANT TO TAKE LUT
07 September 2020
If you do not furnish LUT then you will have to pay IGST.
07 September 2020
THANKS FOR THE REPLY. WE AND THE MERCHANT EXPORTER IN THE SAME STATE THEN ALSO IGST APPLICABLE. FURTHER IF LUT IS NOT TAKEN ALSO FOR PREVIOUS YEARS SHALL WE HAVE TO PAY FULL TAX AS OUR PRODUCT IS @ 18% GST
07 September 2020
You need to check whether such transaction of sale to Merchant exporter qualified as 'sale in the course of export' or not as per the underlying conditions prescribed in GST legislation. IGST applied in case of Export/Import transactions, as such transactions are never being considered as Intra-State transactions.
GST portal will not permit you to file LUT for previous years now.
GST portal will not permit you to file LUT for previous years now.
07 September 2020
No,You do not need to have LUT.It is the merchant exporter who needs to execute LUT .
07 September 2020
THANKS SIR FOR YOUR REPLY
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