How do I file a letter of undertaking Lut and bond for export?

Steps to furnish LUT on the GST portal

1. Step 1: Login to GST Portal.
2. Step 2: Go to ‘SERVICES’ Tab > ‘User Services’ > Select ‘Furnish Letter of Undertaking(LUT)’
3. Step 3: Select the financial year for which Letter of Undertaking is applied for from the ‘LUT Applied for Financial Year’ drop-down list.

How do I file a LUT online for 2021 22?

Login to the GST portal, select Tab Service and go to User Services then, select “Furnishing Letter of Undertaking” Select the Financial year 2021-2022 for which you want to renew the LUT. As you have furnished LUT for the previous period, attach the same and continue to file your application.

What is Letter of Undertaking under GST?

Letter of Undertaking is a document that exporters can file to export goods or services without having to pay taxes. Under the new GST regime, all exports are subject to IGST, which can later be reclaimed via a refund against the tax paid.

What is Lut certificate?

The full form of LUT is Letter of Undertaking. It is a document that exporters can file to export goods or services without having to pay taxes. Under the new GST regime, all exports are subject to IGST, which can later be reclaimed via a refund against the tax paid.

Why LUT is required?

An exporter furnishing LUT’s is required to furnish fresh LUT for each financial year. If the conditions mentioned in LUT are not satisfied within the time-limit, the privileges are revoked and the exporter will have to furnish bonds.

What is the letter of undertaking?

A letter of undertaking is an assurance by one party to another party that they will fulfil the obligation that had been previously agreed on, but not written into a contract.

How do you get a LUT certificate?

Procedure for Filing Online LUT under GST

1. Login to the GST Portal with valid credentials.
2. Go to menu bar and select ‘Service’ option.
3. Now, Form GST RFD-11 is displayed.
4. Select the Financial Year for which period you want to furnish the LUT.