Supplying a bond or a letter of commitment to make exporting goods or services easier.

In accordance with Central Tax Notification No. 37/2017, LUT is required in order to export goods, services, or both without having to pay IGST. The exporter is required to pay the IGST or post an export bond if the LUT is not provided. LUTs could previously only be submitted in person at the relevant GST office.

Any registered taxpayer exporting goods or services can make use of LUTs. However, any person who has been prosecuted for tax evasion for an amount of Rs. 2.5 Crores or above under the act is not eligible to furnish LUTs.

In order to access the GST Portal, use correct credentials. 3. Click on the Services User Services menu and choose the Furnish Letter of Undertaking (LUT) action.

If LUT is not filed means the department is bound by the circular to condone delay and sanction refund on account of goods and services exported.

All registered taxpayers must submit a LUT in Form GST RFD-11 on the GST Portal before undertaking a zero-rated supply of goods or services. Use legitimate login information to access the GST Portal.

Without a LUT, exporting is not feasible. The laws provide that an exporter must give a bond or Letter of Undertaking (LUT) to the relevant Commissioner before making zero-rated shipments.

Every financial year, the qualifying taxpayer must provide a LUT under GST. This means that a LUT issued under GST is only valid for one financial year. If the taxpayer fails to follow the terms and circumstances of the Letter of Undertaking, he or she must provide a bond instead of the LUT (LUT).

From the date of issuing of the export invoice to the date of IGST payment, the exporter must pay the applicable IGST plus interest at the rate of 18 percent per annum.

No, the obligation to post a bond is no longer in effect. A Letter of Undertaking must be filed online for exports that do not include the payment of taxes.