LUT Filing ( Without payment of GST)

Overview

LUT refers to Letter of Undertaking. Using this document, exporters can file to export goods or services without paying taxes. The GST paid can be reclaimed by a refund.

Filing a GST LUT in Greater Noida is essential for those looking to export goods without paying IGST. This document is a declaration of commitment that must be provided to the relevant authorities. Without it, exports cannot take place. So, ensure that you have submitted your GST LUT to guarantee an easy and hassle-free export process.

Failing to file the GST LUT can leave you with a hefty IGST payment or an export bind. Companyadda is here to help make the process of GST LUT registration in Gurgaon an easy one – all you need to do is go online!

Consult our LUT Registration Service Provider Delhi, and begin exporting your products or services to foreign markets.

Benefits

An exporter can export goods without having to pay taxes. If LUT is not filed, then the exporter shall have to endure the extra costs of taxes. An LUT is valid for one year, which means that any goods exported during the year when LUT is filed shall not be levied with export taxes.

Choosing the LUT Registration Service in Noida is a great way for an exporter to avoid any tax on their exported goods and services. Without it, they would need to fork out money for the taxes on their exports, only to then have to apply for a refund on the zero-rated items.

The LUT Filing Consultant Delhi NCR helps exporters dodge the hassle of waiting for a refund or seeking help from the IT department. No more time is wasted on reclaiming lost funds, as the tax payments are now safeguarded. No more money stuck in the limbo of regular exports, as the incoming tax refunds are now securely preserved.

The LUT system and GST LUT Filing Service in Delhi NCR are a boon to regular exporters; as one file, it remains valid for the whole financial year. Submitting a few required documents with the specified LUT form, and the process can be completed online. Also, you can go for a LUT Registration Consultant in Delhi, providing great convenience. This system ensures that working capital doesn’t get blocked in the form of tax refunds.

Checklist

WHO SHOULD APPLY

Any registered person can file for LUT if             

• they plan to supply goods and services to India, overseas or Special Economic Zones (SEZ)
• they are registered under GST
• they wish to supply goods and services without paying taxes.

How to register?

PROCESS FOR FILING

• Log in to your profile on the GST portal
• Go to Services tab, select User Services and then click on 'Furnish Letter of Undertaking'.
• Next, select the financial year, and then you can upload a manual LUT.
• A self declaration is required in the next step, where the promoter agrees to make sure to
  • Complete the export of goods/services within three months of the date of issue of export invoice, or such further period as allowed by the Commissioner
  • Adhere to the GST laws with respect to exports
  • In case of failure to export, pay the IGST along with interest at the rate of 18% from the invoice date to the date of payment of IGST
• Fill the names and other details of two witnesses.
• Enter the place of filing and proceed to preview the form
• Enter a digital signature certificate and submit. No more changes can be done in the application after this.
• Download the undertaking application.

Documents Required

Here we’ve listed some important documentation papers that might be required for the LUT Filing Registration in Delhi-NCR. Read on.

• LUT cover letter, signed by an authorized person
• Copy of GST registration
• PAN card of the entity
• KYC of the authorized person
• GST RFD 11 form for LUT
• Importer Exporter Code (IEC) copy
• Canceled cheque to verify account number, account holder's name, MICR code, name and branch name of the bank and IFSC code.
• Authorized letter