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Can LUT apply today for 22-23

saurabh chawla (working) (114 Points)

25 July 2022

Hello people,

can I apply LUT for fy 22-23? will they charge any penalty because i am applying after 1st April?

thanks beforehand

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CA Ankith Jain (Chartered Accountant) (973 Points)
Replied 26 July 2022

There is no penalty, however whatever exports you have made till now from 1st April 2022 it will be considered as made without LUT, i.e with payment of taxes. Therefore, if u apply now, then from such date you can export without payment of taxes. For any queries, you can contact caankithjain @ gmail.com.