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It is the letter of undertaking which must be filed by the business entities those who deal in export of goods to foreign countries. Such letter of undertaking in the form GST RFD-11. This form is available at the common portal of the GSTN. It is introduced to facilitate exports without the payment of IGST.
Copy of last year LUT (if any).
Login ID & Password of GST Portal.
In case the LUT is filed, an exporter can export goods or services without paying the taxes. In case the LUT is not filed, the exporter shall first pay the required tax before making exports and then claim a refund to avail benefit of zero-rated exports.
During export the bunch of capital is blocked in the form of a due refund. With LUT filing, the capital is free to be utilized for other necessary requirements. It also reduces the cost of exports.
The Letter of Undertaking, once filed is valid for the whole financial year in which it is filed.
The filing of LUT, are made online The applicant does not need to visit the officers for LUt. The whole process can be completed online.
Filing of LUT form on the GST portal with all the required details of export and witnesses.
Self declaring the online form undertraining all the declarations mentioned in the form.
Fill the required details of witnesses at the end of the online form.
After properly and correctly filing the form. Submit the form and get it signed through DSC or EVC.
It is the letter of undertaking which must be filed by the business entities those who deal in export of goods to foreign countries.
The GST commonly known as goods and services tax and the act of (GST) goods and services act,2017 was enacted in Indian constitution on July 1st, 2017.
Letter of undertaking is filed under form GST RFD-11.
The goods and services tax (GST) is known for its ALL-IN-ONE tax system which replaced all the previous tax laws in India which included VAT, entertainment tax, luxury tax, etc. into it.
The GST has following 3 elements:
No, You are not required to be physically present for the LUT filing process.
