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File Your
GST LUT
With US
GST LUT, or Letter of Undertaking, is a document filed by exporters to export goods or services without payment of GST. It is an alternative to paying GST at the time of export and claiming a refund later.
At Future Tax, we specialize in assisting businesses in India with the filing of their GST LUT (Letter of Undertaking) to facilitate export transactions without payment of Goods and Services Tax (GST). Our expert guidance and assistance ensure a smooth and hassle-free filing process.
Filing GST LUT offers various benefits to exporters, including:
Seamless Export: Facilitates export transactions without the need to pay GST upfront.
Working Capital Optimization: Helps optimize working capital by avoiding GST payment at the time of export.
Competitive Advantage: Enhances competitiveness in international markets by offering tax-free exports.
Simplified Compliance: Streamlines export documentation and compliance requirements.
Required
Documents
for Filing
Export Invoices
These are commercial documents issued by the exporter to the importer detailing the goods or services supplied, including their description, quantity, price, and terms of sale.
Bank Guarantees or Undertakings:
These are commitments provided by a bank or the exporter ensuring that the obligations (such as payment or performance) will be fulfilled, often used to mitigate risk in international trade.
Identity and Address Proof of Authorized Signatory:
Documents such as Aadhaar, PAN card, passport, or utility bills that verify the identity and residential address of the person authorized to sign and submit the LUT on behalf of the exporting entity.
Letter of Undertaking (LUT) Form:
A form filed by exporters under GST that allows them to export goods or services without the payment of Integrated GST (IGST), affirming compliance with specified conditions.
Steps for
GST LUT Filing
01.
Client Consultation and Document Collection:
Scheduling a consultation with the client and collecting necessary documents including exporting invoices and identity proofs.
02.
Client Portal Access:
Assisting the client in logging into the GST portal using their credentials or securely accessing their account with permission.
03.
Form Navigation and Initiation:
Initiate the LUT filing process on behalf of the client.
04.
Form Completion and Document Uploading:
Filling in the LUT form with client details and uploading necessary supporting documents.
05.
Submission and Acknowledgment Delivery:
Reviewing details for accuracy, submitting the LUT form, downloading the acknowledgment receipt, and providing it to the client.
How it
Works
Initial Consultation
Contact us for an initial consultation to discuss your GST LUT filing needs and eligibility.
Document Collection
Provide necessary documents such as export invoices, bank guarantees, and identity proofs.
LUT Preparation
Our experts prepare and file your GST LUT accurately and timely.
Review and Submission
We review the GST LUT for accuracy and submit it electronically to the GST portal.
Full Control
Enjoy complete control over your business decisions.
Tax Benefits
Benefit from personal tax rates as income is considered the owner's income.
Easy to Start
Minimal regulatory requirements make it easy to start.
Low Compliance
Fewer compliance requirements compared to other business structures.
Benefits Of
GST LUT Filing
• Tax Exemption:
Allows exporters to make zero-rated supplies without the payment of Integrated GST (IGST), avoiding upfront tax payments.
• Improved Cash Flow:
Prevents the blockage of working capital that would otherwise be tied up in tax payments, enhancing the liquidity for business operations.
• Simplified Compliance:
Reduces the compliance burden by eliminating the need to claim refunds for IGST paid on exports.
• Enhanced Competitiveness:
Helps businesses offer competitive pricing in the international market by lowering the cost of goods or services.
• Streamlined Export Process:
Facilitates a smoother and more efficient export process, ensuring timely and hassle-free transactions.
Additional Services
List of Our Services
PAN and TAN Application:
- Obtain your Permanent Account Number (PAN) and Tax Deduction and Collection Account Number (TAN).
Accounting and Bookkeeping:
- Keep your financial records in order with our expert services.
Compliance Services:
- Ensure your business complies with all legal requirements.
Trademark Registration:
- Protect your brand with trademark registration.
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