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Filing of GST LUT Form for Exporters.

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  • GST LUT Form for Exporters.

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GST LUT Filing In Hyderabad

Under GST Act, the letter of undertaking is a document that is provided by the user in declaring the fulfillment. The GST LUT filing in Hyderabad is done in case there are any exports made without the payment of IGST. It is mandatory to furnish the GST LUT if the exports are going to happen without paying the IGST.

If the individual fails to file the GST LUT, then he has to pay the IGST or furnish the export bind. GST LUT filing in Hyderabad is completely online. IndiaFilings can help you with the same.

Who can do the GST LUT Filing in Hyderabad?

GST LUT filing in Hyderabad is to be done by a person who is intending to supply the goods or services:

  • In or outside India
  • Places that come under the Special Economic Zone
  • Without paying the integrated tax and
  • Is registered under the Goods and Services Tax Act.

An individual is eligible for GST LUT filing in Hyderabad only if the following conditions are fulfilled:

GST LUT filing in Hyderabad has to be done by all the exporters registered under GST. The exporters who are prosecuted for any offense and the tax evasions that are exceeding Rs. 250 Lakhs under the CGST or IGST Act, 2017 are not eligible to file the GST LUT in Hyderabad. In such cases, it is necessary to furnish the export bond.

The Letter of Undertaking is to be provided on the letterhead of the person who has registered under the Goods and the Services Tax. The LUT is presented in the annexure to form GST RFD 11 is issued by the partner, MD, or the Company Secretary.

Validity of the GST LUT in Hyderabad?

The GST LUT in Hyderabad is valid for one whole financial year in which it is submitted. A new LUT is to be submitted for each financial year, in case the goods are not exported within three months of the invoice date then the exporter is liable to pay the GST with 8% interest in 15 days. Also, in case if the payment of the service is not received within a year for which the LUT has been submitted then the exporter is liable to pay the GST @18% within 15 days. Failure to file will result in the withdrawal of the GST LUT facility though it can be restored.

Talk to our GST Experts today, to know more about GST LUT in Hyderabad.

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FAQ's

GST LUT in Hyderabad can be filed by any person who has not been executed for tax evasion by submitting the LUT cover letter, GST registration copy, PAN card of the entity, KYC of the authorized person, GST RFD11 form, IEC Code form copy, canceled cheque, authorized letter.
The primary authorized signatory or any other authorized signatory needs to sign and file the verification with a valid DSC. The authorized signatory can be any working partner or the managing director or the proprietor.
No, GST LUT cannot be filed manually as the ARN generated in the acknowledgment is deemed as acceptance of the LUT.
Since the year 2018-19, the LUT in Hyderabad has to be filed on the GSTN portal online using valid GST credentials. This undertaking is executed on duly stamped paper, which is submitted online.