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GST LUT Form

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LUT in GST: Full form/meaning is Letter of Undertaking. It is prescribed to be furnished in the form GST RFD 11 under rule 96 A, whereby the exporter declares that he or she will fulfill all the requirement that is prescribed under GST while exporting without making IGST payment.

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Pricing Summary

Market Price : ₹2500
IGLI FINANCIAL : ₹1685 excl. GST
: ₹1988 incl. GST
GST Credit : ₹303
You Save : ₹815 (33%)

    Overview

    From 04thOct 2017, CBIC has an open LUT route for all exporters with no bar on the turnover limit. As per Notification No. 37/2017- Central Tax by CBIC, the exporters are provided with an option to export their goods or services without payment of IGST by furnishing LUT over GST Portal.

    LUT i.e., Letter of Undertaking is required to be furnished in the form GST- RFD 11 under rule 96A, whereby the exporter declares all the requirements that are prescribed under GST Act while making exports without payment of IGST.

    Advantages of GST LUT Form

    By opting LUT route, an exporter can export goods and services without paying taxes subject to such conditions, safeguards and procedures as may be prescribed and claim a refund of unutilized Input Tax Credit.

    If the LUT route is not opted for, the exporter will have to pay tax on export and later claim a refund on the zero-rated exports.

    When the exporter files LUT, he isn’t required to pay IGST during export which results in no blockage of funds. When the exporter chooses not to file LUT, he is required to pay IGST during export and later on claim refund of GST paid which results in blockage of funds. Follow-ups are required from the department for a refund of GST paid on exports on the second option. Much time can be saved by opting for LUT route.

    Required Details & Deliverables

    The following documents must be required to complete the application: -

    • Identity proof of the witnesses
    • Address proof of the witnesses
    • Consent letter of witnesses agreeing on terms for such LUT
    • Acceptance letter from department acknowledging Letter of Undertaking of any previous year.

    Process

    GST experts from eAuditor can help you with GST LUT filing with ease.

    • Log in to the GST Portal by entering a valid username & password.
    • Then select the ‘Service’ option in Menu Bar. Clicking onthe ‘Service’ option thereafter go to the ‘User Service’ option and then navigate on “Furnishing Letter of Undertaking”.
    • Thereafter Form GST RFD-11 will be displayed.
    • Select the Financial Year for which LUT is to be furnished.
    • Upload the LUT Order (if any) of the Previous Year in PDF format by choosing the file option.
    • If LUT is already furnished Offline for the previous period, attach the same here and continue to file the application.
    • If filing LUT in online mode read and select all the 3 checkboxes for agreeing with the conditions prescribed in LUT.
    • Next step is to enter the name, address, and occupation of the independent witnesses of two witnesses in the prescribed columns.
    • In the ‘Place field’, enter the place from where the form is filed.
    • Thereafter select the name of the Primary Authorized signatory or another signatory who can sign the Application form.
    • Then click the PREVIEW button to preview the draft form.
    • Click on the SAVE button to save the form whichcan also be accessed later.
    • Click on SIGN AND FILE with EVC orDSC button (as applicable).
    • Once filed after signing, the Form cannot be edited. Rechecking is to be done at least once before signing and submitting.

    As per Circular No. 40/14/2018-GST, LUT shall be deemed to have been accepted after receiving an acknowledgment containing Application Reference Number (ARN) which is generated online.

    FAQs

    Yes, if the supplier supplies goods or services to SEZ, a Letter of Undertaking is required to be furnished in the form GST- RFD 11 under rule 96A.

    If the department has disabled the furnishing of LUT for the exporter, then the only option to get it enabled, the taxpayer has to furnish the request to LUT Processing Officer manually. On GST Portal, a request cannot be raised to enable furnishing of LUT.

    No, there is no legal fee is required to be paid with furnishing LUT Application over GST Portal.

    A person will be able to see his ARN by navigating to Services Tab > User Services > View My Submitted LUTs.

    Bank guarantee will not be required for furnishing LUT to export goods or services or both. However, for furnishing Bond in place of LUT to facilitate exports under GST, additional documents such as Bond on Stamp Paper, Bank Guarantee, Letter of Authority in case of the taxpayer not being an individual, and Other Supporting Documents are required.

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    • Upto 4 name options can be given in 1 RUN name approval request.
    • Authorised capital is the amount of shares a company can issue at anytime and can be increased further in the future. Paid-up capital is the amount invested by shareholder and can be even Rs.2.
    • Additional Directors can be added for an additional price of Rs.1199 - if DSC & DIN is available. In case no DIN or DSC is available, cost for adding additional Director will be Rs.2,199 inclusive of GST.
    • Additional authorised capital can be purchased if requried at time of incorporation.
    • Digital signatures from eMudhra with 2 year validity along with ePass 2003 token
    • Statutory Auditor fee is payable on actuals directly to the Independent Auditor appointed by the Board of Directors. IGLI FINANCIAL will only be responsible for accounting, preparation of financial statements and filing of returns on behalf of the Company.
    • In case of incorporation in Madhya Pradesh, an additional stamp duty of Rs.7500 will be applicable. In case of incorporation in Punjab, an additional stamp duty of Rs.10, 000 will be applicable. In case of Kerala, an additional stamp duty of Rs.3000 will be applicable.
    • Upto 4 name options can be given in 1 RUN name approval request.
    • Authorised capital is the amount of shares a company can issue at anytime and can be increased further in the future. Paid-up capital is the amount invested by shareholder and can be even Rs.2.
    • Additional Directors can be added for an additional price of Rs.1199 - if DSC & DIN is available. In case no DIN or DSC is available, cost for adding additional Director will be Rs.2,199 inclusive of GST.
    • Additional authorised capital can be purchased if requried at time of incorporation.
    • Digital signatures from eMudhra with 2 year validity along with ePass 2003 token
    • Statutory Auditor fee is payable on actuals directly to the Independent Auditor appointed by the Board of Directors. IGLI FINANCIAL will only be responsible for accounting, preparation of financial statements and filing of returns on behalf of the Company.
    • In case of incorporation in Madhya Pradesh, an additional stamp duty of Rs.7500 will be applicable. In case of incorporation in Punjab, an additional stamp duty of Rs.10, 000 will be applicable. In case of Kerala, an additional stamp duty of Rs.3000 will be applicable.
    • Government Fee & Stamp Duty* ( Limited Including )
    • 2 Digital signatures from eMudhra with 2 year validity along with ePass 2003 token.Second List Item
    • Upto 4 name options can be given in 1 RUN name approval request.Third List Item
    • Additional Partners can be added for an additional price of Rs.1199 - if DSC & DIN is available. In case no DIN or DSC is available, cost for adding additional Partner will be Rs.2,199 inclusive of GST.
    • Government Fee & Stamp Duty* ( Limited Including )
    • 2 Digital signatures from eMudhra with 2 year validity along with ePass 2003 token.Second List Item
    • Upto 4 name options can be given in 1 RUN name approval request.Third List Item
    • Additional Partners can be added for an additional price of Rs.1199 - if DSC & DIN is available. In case no DIN or DSC is available, cost for adding additional Partner will be Rs.2,199 inclusive of GST.
    • IGLI FINANCIAL shall not be responsible for any delay in making of the requisite filings and the client is solely responsible for the delay and any penalty that may be levied on account of such delay. The client should be aware of the due dates and compliances inter-alia under various laws, acts, regulations and rules and we are solely responsible for compliances under all applicable laws and shall be responsible for payment of any penalty or losses that arise on account of non-compliance of any applicable laws, rules, regulations and acts.
    • The above pricing is applicable for businesses with turnover upto 30 lakhs . In case of larger business, extra charges would be applicable.
    • All data provided by the Client will remain confidential with IGLI FINANCIAL unless pursuant to any order or requirement of a court, administrative agency, or other governmental body.
    • The client will be responsible for verifying the information contained in such returns and/or filings prior to approving/signing such return/filing.IGLI FINANCIAL shall not be responsible for any liability that may arise on account of the information being false and/or incomplete.
    • IGLI FINANCIAL shall not be responsible for any delay in making of the requisite filings and the client is solely responsible for the delay and any penalty that may be levied on account of such delay. The client should be aware of the due dates and compliances inter-alia under various laws, acts, regulations and rules and we are solely responsible for compliances under all applicable laws and shall be responsible for payment of any penalty or losses that arise on account of non-compliance of any applicable laws, rules, regulations and acts.
    • The above pricing is applicable for businesses with turnover upto 30 lakhs . In case of larger business, extra charges would be applicable.
    • All data provided by the Client will remain confidential with IGLI FINANCIAL unless pursuant to any order or requirement of a court, administrative agency, or other governmental body.
    • The client will be responsible for verifying the information contained in such returns and/or filings prior to approving/signing such return/filing.IGLI FINANCIAL shall not be responsible for any liability that may arise on account of the information being false and/or incomplete.
    • Strict confidentiality requirements will be met with no disclosure by us to other parties without your consent, unless otherwise required by law or professional obligation. You may provide us with permission to disclose your confidential information in certain circumstances, or place conditions on the disclosure of certain confidential information. If you do so, we will have permission to disclose the relevant information accordingly, in the performance of our services, unless you instruct us otherwise in writing.
    • The client will be responsible for verifying the information contained in such returns and/or filings prior to approving/signing such return/filing. IGLI FINANCIAL shall not be responsible for any liability that may arise on account of the information being false and/or incomplete. IGLI FINANCIAL shall not be responsible for any delay in making of the requisite filings and the client is solely responsible for the delay and any penalty that may be levied on account of such delay. The client should be aware of the due dates and compliances inter-alia under various laws, acts, regulations and rules.
    • The client will be responsible for paying all types of government fee, penalty, statutory audit fees and taxes associated with the engagement. IGLI FINANCIAL Accountants are only responsible for preparation of accounting and statutory returns. The Client is responsible for the reliability, accuracy and completeness of the accounting records, particulars and information provided and disclosure of all material and relevant information. Clients are required to arrange for reasonable access by us to relevant individuals and documents, and shall be responsible for both the completeness and accuracy of the information supplied to us. Any advice given to the Client is only an opinion based on our knowledge of the Client's particular circumstances
    • Strict confidentiality requirements will be met with no disclosure by us to other parties without your consent, unless otherwise required by law or professional obligation. You may provide us with permission to disclose your confidential information in certain circumstances, or place conditions on the disclosure of certain confidential information. If you do so, we will have permission to disclose the relevant information accordingly, in the performance of our services, unless you instruct us otherwise in writing.
    • The client will be responsible for verifying the information contained in such returns and/or filings prior to approving/signing such return/filing. IGLI FINANCIAL shall not be responsible for any liability that may arise on account of the information being false and/or incomplete. IGLI FINANCIAL shall not be responsible for any delay in making of the requisite filings and the client is solely responsible for the delay and any penalty that may be levied on account of such delay. The client should be aware of the due dates and compliances inter-alia under various laws, acts, regulations and rules.
    • The client will be responsible for paying all types of government fee, penalty, statutory audit fees and taxes associated with the engagement. IGLI FINANCIAL Accountants are only responsible for preparation of accounting and statutory returns. The Client is responsible for the reliability, accuracy and completeness of the accounting records, particulars and information provided and disclosure of all material and relevant information. Clients are required to arrange for reasonable access by us to relevant individuals and documents, and shall be responsible for both the completeness and accuracy of the information supplied to us. Any advice given to the Client is only an opinion based on our knowledge of the Client's particular circumstances
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