is any one can explain
who are all register lut under gst regime.
4 Replies
Pankaj Rawat
(GST Practitioner)
(55052 Points)
Replied 06 June 2018
The taxpayer who export & Do not want to charge & deposit IGST on same ,.. has to file for LUT
Vinod Babu
(24191 Points)
Replied 06 June 2018
Letter of Undertaking(LUT):
Exports without the payment of tax can be made only after filing a bond or letter of undertaking (LUT) as applicable to the exporter. There was a lot of ambiguity regarding the exports which are to be made without the payment of IGST. The government of India has released few notifications regarding the filing of bond and LUT in the case of certain specified people. Exporters can make the payment of IGST at the time of export and then claim the refund later but it will block their working capital.
Who is eligible to submit LUT?
All goods and service exporters are eligible to submit LUT except the exporters who have been prosecuted and the amount of tax evaded exceeds Rs. 2.5 Lakhs under the
CGST Act, or
SGST Act, or
Any of the existing laws
The exporters who are not eligible to submit LUT can either avail the option to “Pay GST and then claim Refund” or to “Submit Bond with Bank Guarantee and export without payment of GST”.
Exports without the payment of tax can be made only after filing a bond or letter of undertaking (LUT) as applicable to the exporter. There was a lot of ambiguity regarding the exports which are to be made without the payment of IGST. The government of India has released few notifications regarding the filing of bond and LUT in the case of certain specified people. Exporters can make the payment of IGST at the time of export and then claim the refund later but it will block their working capital.
Who is eligible to submit LUT?
All goods and service exporters are eligible to submit LUT except the exporters who have been prosecuted and the amount of tax evaded exceeds Rs. 2.5 Lakhs under the
CGST Act, or
SGST Act, or
Any of the existing laws
The exporters who are not eligible to submit LUT can either avail the option to “Pay GST and then claim Refund” or to “Submit Bond with Bank Guarantee and export without payment of GST”.
Theerthaprasad D S
(2 Points)
Replied 04 January 2019
Can we combine both the option in the same month??
export goods with payment of IGST (till exhaust of ITC) and then export under LUT in the same month apply for a refund for IGST paid.
Pankaj Rawat
(GST Practitioner)
(55052 Points)
Replied 06 January 2019
yes you can ............................
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