Today we will discuss the letter of undertaking in GST. Meaning of letter of undertaking, For whom it is helpful,timeline of filling the LUT etc.
Meaning of LUT
LUT means letter of undertaking it is used by exporter of goods or services to make the export without paying IGST on it. Every exporter should either take LUT number or export the goods with leaving IGST duty
How to Upload the LUT
First step – Login your accounts
Second step
lut
Click on services
click on user
click on LUT
If there is problem and we are unable to see the LUT in services. Log out form the gst screen and login again for 2-3 times.
Third step
Select the financial year for which LUT required
Fourth step
furnish Self-Declaration: Tick mark by clicking against each of the three boxes
Fifth step –
Give Independent witness details. This will be given for the person who are available at the time of DSC filing
Sixth Step –
Enter place of filing and select authorized signatory and upload with the help of EVC or DSC. DSC is compulsory for Companies & LLP
Timeline for Filing the LUT
LUT will be filed for the financial year starting from April to March. Every financial year assesses need to file the LUT.
IS Goods and Services provided in SEZ taxable in GST
After taking the LUT goods and services can be given to SEZ without payment of duty. In short LUT is also applicable for SEZ unit.
