12 February 2021
hello, I run proprietorship service business and do mostly export of services like tech. I do LUT in GST to sell without collecting service tax, is that correct?
13 February 2021
Yes, you have to apply for LUT every year. In your expenses bill related to export of software where GST is paid you can claim refund. Like rent paid for office, telephone bill etc.
So if I have understood this correctly, I keep submitting LUT every year in GST portal then I don't have to collect GST for Export of Service and not even have to submit any GST. Just keep filing those invoices as "Export without GST", right?
I hope there is no limit to raise invoice without GST in export of service. because most of my business is export of service and I don't collect GST but I make sure each invoice is filed in GST.
01 March 2021
Sir, if I apply for LUT now for Financial Year 2021-2022 then will that be valid for whole Financial Year 2021-2022? or its just for 12 months from the date of applying?