GST Registration Certificate
New Delhi : 110034
8130570502
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As per the provisions of the GST Act, 2017, a business entity or seller is mandated to issue Letter of Undertaking (LUT) prior to beginning any Export Business to the Foreign Market or to SEZs. By filling up the same in GST RFD-11 Form, a registered business can operate overseas without paying the Integrated-GST or IGST.
A Business Entity or Seller Registered under GST Taxation is mandated to apply for GST LUT in the following instances:
GST Letter of Undertaking or Bond legally enables a business personnel or seller to operate an Export business without paying the imposed Tax.
As per the Act, a GST LUT can be filed for an entire Financial Year. It simplifies the taxation process and makes the business operation trouble-free.
GST LUT filing not only exempt the auxiliary taxation, it gives a Export Business Entity further composure in terms of Customs Duty.
Once an Entity files GST LUT to the taxation department of the Indian Govt. it saves a huge amount of capital by getting refund from other categories of GST Filings throughout the financial year.
Since April, 2018, the GST LUT filing has been modified into an entire digital system. It brought transparency in the taxation filing process and made it more convenient for the Registered Business Individuals.
GST Registration Certificate
Import Export Code (IEC)
2 Nominees/Witness (Mandatorily 1 Employed Accountant)
PAN & Aadhaar Card of the Business Owners
Bank Credential (Canceled Cheque)
PAN details of the Business Entity
Any business entity registered under the taxation system of the Indian Taxation System, can file a GST LUT for commencing an Export Business.
If a business entity is willing to incorporate an Export Business, it should file the GST LUT using the online platform. For the first time, the LUT can be filed at any time, but from the following, GST LUT must be filed within the same Financial Year.
To file GST Letter of Undertaking, the applicant is needed to furnish the GST Registration Certificate, IEC Code, PAN+Aadhaar Details of the business personnel and the business entity along with the bank credentials.
Yes. In the time of GST LUT filing, the applicant is needed to furnish 2 Nominees/Witness, one of them should be an employed Accountant of the particular entity.