BOND or LUT

If u have file the application for LUT on portal & Got the ARN then
Plz send your CHA the copy of Circular 40/14/2018 , he will not ask u for the Bond

what if I had not filled LUT with GST?

u have to charge IGST on ur export invoice thats all

But if I file LUT with portal then it's not valid then?

Yes , that what iam saying , if u file application for lut on portal & got the ARN.,.. then no need to charge IGST on export

OK...
thank you...

U r welocme !

sir if I send machine for repair purpose outside India then which document is required? bond or lut?

Bharhav ji

Diference between bond & Lut

Any registered taxpayer exporting goods can make use of LUTs. However, any person who has been prosecuted for tax evasion for an amount of Rs. 2.5 Crores or above under the act is not eligible to furnish LUTs.

The validity of such LUT’s is for a period of one year (till the end of financial year). An exporter furnishing LUT’s are required to furnish fresh LUT for each financial year. If the conditions mentioned in LUT are not satisfied within the time-limit, the privileges are revoked and the exporter will have to furnish bonds.

For all the other assesses (along with the ones who have been prosecuted for tax evasion of Rs. 2.5 Crores or above under the GST laws), bonds should be furnished if the export is being made without payment of IGST.