06 Mar 2018
Who is eligible to submit LUT?
All goods and service exporters are eligible to submit LUT except the exporters who have been prosecuted and the amount of tax evaded exceeds Rs. 2.5 Lakhs under the
How to submit LUT for Exports without payment of GST?
Documents to be submitted along with LUT
The following documents should be submitted along with the LUT:-
If the LUT is not accepted within a period of 3 working days from the date of submission, it shall be deemed to be accepted.
The LUT for exports without payment of GST is valid for the whole financial year in which it is submitted. The LUT would be required to be submitted separately for each financial year.
In case the goods for which the LUT has been submitted are not exported out of India within 3 months from the Date of issue of Invoice, the exporter of goods would be liable to pay GST within 15 days along with interest @18%.
In case the payment for services for which the LUT has been submitted is not received within 1 year in convertible foreign exchange, the exporter of services would be liable to pay GST within 15 days along with interest @18%. The LUT facility shall be deemed to be withdrawn in such cases. However, if the amount mentioned in this sub-rule is paid subsequently, the facility of export under LUT shall be restored.
Modes of Submission of LUT-
LUT can also be filed in online mode for which Procedure is as follows-
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