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LUT FOR FY 2025-26

Mahesh (Accountant) (49 Points)

22 March 2025

Hi,

I had applied for LUT for the first time for FY 2024-25 in Jan 2025 and raised invoice for services in Feb 2025. Now for FY 2025-26 do i have to apply before MArch 31 2025 or on Jan 2026 because my export invoice will in Feb Month only. Also if i applied for LUT before march 31st 2025 and if there is no export invoice in 2025-26 is it ok?

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Rama chary Rachakonda (Master in Accounts & Lawyer email ID:ramachary64@gmail.com voice no:9989324294) (6934 Points)
Replied 22 March 2025

As per the GST regulations: LUT Application Timeline: - *First-Time Applicant*: Since you applied for LUT for the first time in January 2025, you need to apply for renewal of LUT for FY 2025-26. - *Renewal Timeline*: The renewal application should be made at least 30 days prior to the expiry of the existing LUT. Key Considerations: - *Export Invoices*: Since your export invoices are typically raised in February, it's essential to have a valid LUT in place before that. - *LUT Expiry*: If you applied for LUT in January 2025, it's likely to expire on March 31, 2025. Recommended Course of Action: 1. *Apply for LUT Renewal*: Apply for renewal of LUT before March 31, 2025, to ensure continuity and avoid any disruption to your export business. 2. *Submit Application in January 2026*: If you miss the renewal deadline, you can submit a fresh application in January 2026. However, this might cause a gap in your LUT coverage. No Export Invoices in 2025-26: If you apply for LUT before March 31, 2025, and there are no export invoices in 2025-26: - *No Issues*: There are no issues, as the LUT is valid for the entire financial year. - *No Penalty*: You won't face any penalty for not having export invoices during the validity period of the LUT. Consult a tax professional or chartered accountant to ensure you're meeting the LUT application and renewal requirements.

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