How to file LUT for exports for FY 2018-19:
LUT is required to be filed by all exporters in India. It is required for export of goods and/or services without payment of IGST. Its validity is year wise so for the financial year starting from 1st April it will be required for export. Also the taxpayers not filed LUT for the current financial year are also required to file it to avoid GST on exports made without payment of IGST. A condonation is given for delay in LUT for current financial year. This make it important to file LUT for current year to avoid any demand for non compliance.
Who all are required to file an LUT:
- Exporters of Goods
- Exporters of services
- Merchant exporters as they are not allowed to make export with payment of IGST.
- Suppliers to SEZ units
How to file LUT online: You can file it online by login into your GST registration.
Procedure to file LUT online: You need to login and click on online LUT as shown in above GIF.Then fill the details like name and address of witnesses.
On filing of this application an acknowledgement will be received by taxpayer. Although even after that hard copies will be submitted in department.