LUT Under GST
What is LUT Under GST
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.
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Benefits of LUT Under GST

Exports without tax payment

Saves Working Capital

An Entire Financial Year Validity

Simple and online process
Documents required for LUT Under GST

Entity’s PAN Card

KYC of Authorised Signatory

Witnesses

GST Registration

IEC Certificate
