Letter of Undertaking (LUT)
₹ 3,000/- (all inclusive)
- Discussion and collection of basic Information
- Collection of required documents
- Preparation for the Letter of Undertaking
- Online Submission of LUT
- Sharing Acknowledgment bearing ARN
What is Letter of Undertaking (LUT) ?
Letter of Undertaking is abbreviated as LUT. The Letter of Undertaking is a document submitted by the exporter in order to export goods or services without the payment of taxes. In case the LUT is not filed, the exporter may export by payment of IGST and then claim the refund of tax paid. Filing LUT is convenient than refund mode as the exporters do not wish to indulge into hassles of refunds and block their funds. The eligibility criteria to apply for LUT is comparatively relaxed than to the erstwhile system.
Letter of Undertaking is filed online using the form GST RFD 11. By filing LUT, the exporter undertakes that all the requirements prescribed for this route will be fulfilled by him.
Advantages of Letter of Undertaking (LUT)
Documents Requirements
Entity’s PAN Card
A Copy of PAN card of the exporter entity
KYC of Authorised Signatory
A Copy of PAN card and Aadhar card of partners/directors
Witnesses
Information of at least two witnesses along with the address proof and PAN
GST Registration
GST Registration Certificate of the exporter is required
IEC Certificate
The IEC certificate must be submitted
Cancelled cheque
A Copy of cancelled cheque of current account of exporter
Procedure
Frequently Asked Questions
Exports of goods and services are done either with the payment of applicable GST or without the payment of GST. In the first portion, the taxes paid are refunded to exporters subject to conditions of exports. For exports without payment of taxes, the exporters are required to file Letter of Undertaking.
If the exporters wish to opt for exports without the payment of taxes, the Letter of Undertaking is required to be filed. First time filing can be made any time before exporting without taxes. However, if the exporter wants to continue the same to the next financial year, it must be filed before the commencement of the financial year.
Earlier criteria of turnover and inward receipts were prescribed for filing LUT under GST. However, now any exporter willing to export without paying the taxes can file Letter of Undertaking under GST online.
No, the requirement to file a bond is eliminated. For exports without payment of taxes, online Letter of Undertaking is required to be filed.
Since the financial year 2018-19, the Letter of Undertaking is required to be filed on an online portal of GST Network using GST credentials. The undertaking is executed on the duly stamped paper, which is submitted through the online portal.
Letter of Undertaking will be valid for the whole financial year in which it is filed. However, if the conditions with respect to exports are not fulfilled, LUT is deemed to be withdrawn until the fulfillment of conditions.
No, the physical submission of Letter of Undertaking is not required now as the ARN generated in the Acknowledgment is deemed as acceptance of the LUT.
Yes, the Letter of Undertaking is valid for the financial year in which it is filed. Hence, the LUT must be applied for in the beginning of every financial year.
Why Choose us
Personalise and professional Approach
Cost Effective
Quality on time
Tech Approach
Post Delivery Support
Peace of Mind Guaranteed
- Get Connected with our Consultants with our Specialised designed CRM Software.
- Track the progress of your Service on the click of a button.
Accuracy-Delievered
- With a curated pool of Consultants from our network of CA,CS,Advocates, you will never gone wrong on compliance.
- Our cloud Software used by our consultants minimize chances of Errors
Security Ensured
- Data Security is our top Priority. Bank Level security ensures your data is safe.
- Over a hundreds individuals and businesses trusted us with their Business Records
Meet Our Experts
CAs with working experiance of 5+ years both at corporate as well as individual practice level.
Professionals with vast working experiance of 5+ years with big corporates and business houses.
Advocates having very rich working experiance of Corporate clients as well as other legal works.
Experts having finger on the pulse of current investment climate,provide best financial advice and assist in fund management and fund raising.
CFOs working with big corporates and business houses for 10+ years.
Valuers having a very rich experiance of working with various banks and other financial institutions.
Experianced and Professional advisors providing services to various law firms and Business houses.
Testimonial
Services are really excellent, on time responsive. Any one can rely on their services
One stop Solution for all Tax and Legal services. We are happy for their service and association.
Team Taxfry is very much professional and knowledgeable. Would surely refer among my contacts.