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How to apply LUT Online for FY 2023-24 ?
Under the GST Regime Exports are treated as interstate supply on which GST Shall be applicable.
However where a registered person who is in the business of export the goods or services from India and want to do export without payment of integrated taxes, then registered person need to file/furnish letter of undertaking (LUT) with the department. Till Feb 2018 the procedure to apply letter of undertaking was manual , now department given option to apply LUT (Letter of undertaking) online. Below we the procedure to apply letter of undertaking online is explained. For the Financial year FY 2023-24 Apply LUT online before 31 March 2023. Also LUT renewal process for FY 2023-24 is same.
Step No. 1
Login to GST Website using your GST Login ID and password to apply LUT Online.
Step No. 2
Visit to tab of Services – User Services – Furnish Letter of Undertaking (LUT)
Click on Letter of Undertaking
Apply LUT
Step No. 3
Next screen will be shown as below for Process to apply LUT Online. Select the financial year for which Letter of Undertaking is applied. For to Apply LUT For 2023-24 select year from drop down.
Sept No. 4
Next screen will be shown for Letter of Undertaking for export of goods or services without payment of integrated tax.
Sept No. 5
Select name of primary / authorized signatory who will sign Online LUT and enter place
Once form is signed, registered person cannot edit it.
FAQ
1. Under Which Notification Letter of Undertaking is issued to registered person?
Under Notification No. 37 /2017 – Central Tax dated 04 October 2017 letter of underacting is issued
2.What is the validity of LUT for year 2023-24 ?
In common practice department issue LUT for up to end of financial year. LUT applied for FY 2023-24 shall be valied till 31 March 2024. Example: XYZ Ltd applied LUT in April 2023 , the department will give LUT valid till 31 March 2024.
3. Does Exporter need to renew LUT once received by department ?
Yes. As LUT received are given for a period ending upto financial year. Hence Registered person need to apply for renewal of LUT.
4. What exporter is not having LUT?
Under the GST Regime Exports are treated as interstate supply on which GST Shall be applicable.
5. What is the benefit of having LUT for exporter ?
Exporter of goods or service who is in possession of valid LUT need not to pay GST on export of goods or services and take GST refund later.
6. Procedure to Apply LUT Renewal for year 2023-24 ?
LUT renewla proces for FY 2023-24 is explained here. LUT Renewal process is complete online.
