Go AD-Free with CAclubindia Pro and get a FREE CCI Coffee Mug. Subscribe Now!

EXPORT with LUT but LUT is not generated

CA Niyati Soni (PROPRIETOR ) (754 Points)

03 April 2025

If export is done under LUT for F.Y. 2024-25 but client has not renew his LUT for The same F.Y.. What shall he do further to get refund of his Uncllaimed ITC?

Reply
Follow
Share

3 Replies

Rama chary Rachakonda (Master in Accounts & Lawyer email ID:ramachary64@gmail.com voice no:9989324294) (7101 Points)
Replied 03 April 2025

If an exporter has exported goods under a Letter of Undertaking (LUT) for the financial year 2024-25 but failed to renew the LUT for the same financial year, they can still claim a refund of their unclaimed Input Tax Credit (ITC). Here's a step-by-step guide:

Step 1: File GSTR-3B and GSTR-1 Ensure that the exporter has filed their GSTR-3B and GSTR-1 returns for the relevant period, reporting the exports made under the LUT.

Step 2: Obtain a New LUT The exporter should apply for a new LUT for the financial year 2024-25. They can do this by submitting Form GST RFD-11 on the GST portal. Step

3: File a Refund Application Once the new LUT is obtained, the exporter can file a refund application in Form GST RFD-01A on the GST portal, claiming the unclaimed ITC for the period.

Step 4: Submit Supporting Documents The exporter must submit supporting documents, such as: -

*Export invoices*: Copies of export invoices for the period. -

*Shipping bills*: Copies of shipping bills or bills of export. - *LUT certificate*: A copy of the new LUT certificate. Step 5: Verification and Refund The tax authorities will verify the refund application and supporting documents. If everything is in order, the refund will be processed, and the exporter will receive the unclaimed ITC. Important Points: - *Time limit*: The exporter should file the refund application within the time limit specified under the GST Act (typically 2 years from the end of the financial year). -

*Interest and penalty*: If the exporter has failed to renew the LUT, they might be liable for interest and penalty.

However, this can be waived if the exporter can provide a valid reason for the delay.

Upgrade to CAclubindia Pro. Subscribe Now!

CA Niyati Soni (PROPRIETOR ) (754 Points)
Replied 03 April 2025

How to apply for New LUT for F.Y. 2024-25. As portal is not showing the year for LUT.

Is there any way to apply physically for last Financial year?

Rama chary Rachakonda (Master in Accounts & Lawyer email ID:ramachary64@gmail.com voice no:9989324294) (7101 Points)
Replied 03 April 2025

To apply for a new Letter of Undertaking (LUT) for the financial year 2024-25, you can follow these steps:

Online Application: 1. *Login to GST Portal*: Log in to the GST portal using your credentials.

2. *Navigate to LUT Section*: Go to the "Services" tab and select "User Services" > "Furnish LUT".

3. *Select Financial Year*: Although the portal may not be showing the year for LUT, you can try selecting the financial year 2024-25 from the drop-down menu. If the option is not available, proceed to the next step.

4. *Submit Application*: Fill in the required details and submit the application. Alternative Method: If the portal is not allowing you to select the financial year 2024-25, you can try the following:

1. *Contact GST Helpdesk*: Reach out to the GST helpdesk and report the issue. They may provide guidance or resolve the technical issue.

2. *Submit Application Physically*: Although the GST portal is the primary method for submitting LUT applications, you can try submitting a physical application to the jurisdictional GST officer.

However, this method is not recommended, as it may lead to delays and inconvenience.

Physical Application (Not Recommended): If you still want to submit a physical application, ensure you have the following documents: -

*Filled Form GST RFD-11*: The application form for LUT, duly filled and signed. -

*Supporting Documents*: Attach all required supporting documents, such as the board resolution, ID proof, and address proof. Submit the physical application to the jurisdictional GST officer, but be aware that this method may not be accepted, and you may be required to re-submit the application through the GST portal. Recommendation:

It's recommended to wait for the GST portal to be updated to allow selection of the financial year 2024-25 for LUT applications.

Alternatively, you can contact the GST helpdesk for guidance on submitting the application.

Join CCI Pro

Recent Topics

More recent discussions | Post

Related Threads

Popular Discussion

Start a New Discussion

CCI Pro

Trending Online Classes

Certification Course on GST Notices Reply from AI Tools

CA Deepak Gupta

Enroll Now

12 April 2025
Guide to UAE Corporate Tax Return Filing

CA Mohd Asim

Enroll Now

05 April 2025
Certification Course on GSTR-3B Reconciliation with GSTR-2B through Chat GPT

CA Deepak Gupta

Enroll Now

26 April 2025

view all classess

Subscribe to the latest topics :

Search Forum:

Forum Home

Popular Threads

Recent Posts

Unreplied Threads

Settings