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Regards lut eligibility

165 views 6 replies

sunil

accounts officer

36 Points Joined December 2016

hi

we want to export this year approx 50 lakh and last year our export value are 20 but in GST lut notification it is mentioned preceding year export value are more than 1 crores
so can I eligible for LUT.

pls reply...

Replies (6)

Guest

That condition for requirement of certain quantum of foreign currency is not required anymore.So you can opt for LUT

Pankaj Rawat

GST Practitioner

55062 Points Joined June 2017

yes it was earlier of 1 crore ,now it is not

sunil

accounts officer

36 Points Joined December 2016

Thanx,

Pls refer to notification against this lut from GST website

Guest

Please refer Not.No 37/2017-CT dated 04-10-17

sunil

accounts officer

36 Points Joined December 2016

Thanks a lot

sujith kumar dasa

banglore

1496 Points Joined June 2012

The department has issued a circular in oct-2017, removing turnover limit for LUT. Hence you can submit LUT even if your turnover is less than 1 crore