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Gst ltu

wasim akram (article) (29 Points)

01 December 2017

Dear all,

I want to know about the GST LUT,

Can anyone explain me what is this all and whome it ll applicable.

Please let me know?

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6 Replies

SUSHIL SINHA (68 Points)
Replied 01 December 2017

LUT stands for Letter of Undertaking which is required for export of goods or services without payment of IGST.

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SUSHIL KUMAR (acc) (30 Points)
Replied 01 December 2017

LUT also for SEZ and For you can apply for LUT if you received the Money Rs 1Cr in foreign currency and deemed to be foreign currency in previous years he will be eligible for LUT after issued the LUT you can supply the good without payment of Tax

Dipak Joshi (2 Points)
Replied 02 December 2017

LTU means Large Tax Payer Unit. Assessee who is paying above 5 crore revenue of excise and service tax was opt this facility in the old regime ( Before existing law). Some special provisions was there for LTU member.