LUT Registration
The full form of LUT in GST is “Letter of Undertaking.” Under the Goods and Services Tax (GST) regime in India, an LUT is a declaration filed by exporters to export goods or services without the need to pay taxes upfront. By submitting an LUT, exporters can bypass the upfront tax payment and avoid the lengthy refund process. The GST LUT is an essential tool for businesses involved in international trade, allowing them to simplify export procedures and maintain smooth cash flow.
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FAQ about LUT Registration
LUT (Letter of Undertaking) allows exporters to export goods or services without paying GST upfront, avoiding the refund process.
It helps exporters avoid paying Integrated GST (IGST) at the time of export and simplifies the refund process by enabling zero-rated exports.
LUT is valid for one year and needs to be renewed annually.
Documents include GST registration details, bank details, and a declaration confirming that the exporter will not claim a refund of the IGST paid on exports.
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