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LUT for exports and GST

30 July 2021

I have taken IEC and LuT online however my export order got cancelled from clients end.
Do I still need to file anything to government portal?

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5 Replies

Deepak Kumar (791 Points)
Replied 31 July 2021

I think no you not need to file government any thing. then you exports the goods any time so used the LUT and IEC its my openion

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CA. Sourav Sarkar (Chartered Accountant ) (24583 Points)
Replied 31 July 2021

No need to file

Nidhi (Chief Accountant) (3150 Points)
Replied 31 July 2021

Not required to do anything

CA. Heet Shah (Tax Consultant & Practitioner) (6180 Points)
Replied 03 August 2021

Hi Aniket,

Incase of IEC there is no monthly return required.

However incase of GST monthly return filing is mandatory.

debora M (BUSINESS DEVELOPMENT MANAGER) (1697 Points)
Replied 21 September 2021

Any registered taxpayer exporting goods or services 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).