Renewal of Letter of Undertaking
With the introduction of GST Law Exports are treated as interstate supply on which GST Shall be applicable. Procedure to Renewal of Letter of Undertaking LUT need to be again applied by dealer. Registered persons who’s nature of business is either export of goods or export of services. Business who had already taken LUT under in financial year 2017-18 they need to apply for renewal of letter of under taking. LUT Renewal is regular process for business who does not want to pay IGST at time of export of goods or services.
Legal Provisions for LUT Renewal :
As per Circular No. 8/8/ 2017 GST : Para 2(b)
The LUT shall be valid for the whole financial year in which it which it is tendered. Thus , Validity of LUT issued in FY 2017-18 would be till 31/03/2018. Hence it is clear that LUT issued in FY 2017-18 validity period is over. And every exporter who intend to supply export of goods or services without IGST shall apply for renewal of Letter of Undertaking LUT.
List of Documents for Renewal of Letter of Undertaking :
Following are important documents which department may ask at time of Renewal of Letter of Undertaking.
- Renewal of LUT covering letter
- GST Certificate
- Copy of Previous LUT issued
- RFD 11
- No due declaration
- No prosecution declaration