LUT Registration

Under GST, there are two options being provided to exporters of goods or services or both for effecting such supplies :

  • Submit a LUT or Bond (as applicable) to the Commissioner of GST. In this case, there is no need to pay tax on exports and the assessee can claim a refund of GST paid on its inward supplies.
  • Pay IGST on exports and then after claim refund for the same.

Letter of Undertaking (LUT):

All registered taxpayers who export the goods or services will now have to furnish a Letter of Undertaking (LUT) in GST form on the common portal of GSTN in order to make exports without payment of IGST. Letter of the undertaking has to be filed /submitted online before exporting the goods/services.

Hence, If you are engaged in the Import Export business, then it would always be a great option to file an LUT for getting exemption from paying GST.

Benefits of filing LUT:

  • Once you submit the LUT, it is valid for one whole year.
  • There would be no additional compliance.
  • IGST will not have to be paid on exports for a year.

Why Choose us

1

Budget-Friendly Services

Basak Associates is a flexible and experienced business consulting firm. We take pride to provide the best possible services in India with cost-effectiveness the other companies can’t match.
2

Reputation and Trust

We are providing legal business solutions for more than 25 years now. We have gradually built our reputation and now Basak Associates is one of the leading business registration firms in India.
3

Information Security

We take our client’s security as our top-most priority. Our privacy policy and payment gateways are secure and 100% trust-worthy. That’s why most of our work is repetitive business. We guarantee you will come back!
ARE YOU LOOKING FOR A

Business Plan Consultant?

Schedule your company strategy session right now!