Unlock a smooth journey for FY 2024-25! Online filing for GST LUT is now live. Ensure completion before March 31, 2024, or ahead of exports and SEZ supply. The previous LUT stays valid until March 31, 2024.
What Is a GST LUT?
A Letter of Undertaking (LUT) under GST allows exporters to make exports and supplies to SEZ (Special Economic Zones) without paying IGST. Instead of paying tax and later claiming a refund, the LUT lets you export goods and services at zero tax upfront.
Who Needs to File a LUT?
- Exporters of goods and services
- Businesses making supplies to SEZ units or developers
- Any registered taxpayer who wants to export without paying IGST
Exception: Taxpayers who have been prosecuted for tax evasion exceeding ₹2.5 crores are not eligible for LUT.
Key Deadlines
- File for FY 2024-25 before the start of the financial year or before your first export shipment
- The previous year's LUT (FY 2023-24) remains valid until March 31, 2024
- A new LUT must be filed for each financial year
How to File GST LUT Online
- Log in to the GST portal (www.gst.gov.in)
- Navigate to Services → User Services → Furnish Letter of Undertaking (LUT)
- Select the financial year 2024-25
- Fill in the required details and provide two witness signatures
- Submit the form — no physical documents required
Benefits of Filing LUT
- Zero upfront tax on exports — improves cash flow significantly
- No need to claim refunds for IGST paid on exports
- Simple annual process — file once, valid for the entire financial year
- Hassle-free exports with proper documentation
Important Reminders
- File the LUT before making your first export of the new financial year
- Keep records of all export invoices and shipping bills
- If you fail to file a LUT, you'll need to pay IGST and claim a refund later
Follow @xpert.advices on Instagram for timely compliance reminders.
#gst#lut#exports#sez#compliance