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Renewal of Letter of Undertaking (LUT) for export

Khush Trivedi , Last updated: 21 March 2024  
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LUT (Letter of Undertaking) issued during the Financial year 2023-24 expires on 31/03/2024.

Registered exporters who want to export goods or services without IGST must renew their LUT before it expires.

Renewal of Letter of Undertaking (LUT) for export For FY 23-24

Introduction

If you are an Exporter & doing Export Transactions and want to Simplify your Business Transactions then you have two options either you can either export under Bond/Letter of Under taking without payment of Tax & claim credit of ITC OR pay IGST by utilizing ITC or in cash at the time of export and claim refund of IGST paid.

What is Bond/LUT (Letter of Undertaking)

Letter of Undertaking is commonly known as LUT. The GST LUT is prescribed to be furnished in form GST RFD 11 under rule 96A, whereby the exporter declares that he/she would fulfill all the requirements prescribed under GST while exporting without making IGST payment. Such document serves as a powerful tool for exporters, allowing them to engage in the export of goods or services without the obligation of immediate tax payment.

How to File LUT?

In order to File LUT following steps required to be taken:

  • Go to GST portal via www.gst.gov.in.
  • Login with you GST ID Credentials.
  • Click the Services > User Services > Furnish Letter of Undertaking (LUT).
  • Form GST RFD-11 is displayed. Select the financial year for which LUT is applied for from the LUT Applied for Financial Year drop-down list.
  • Choose the File to be uploaded.
  • In the Name, Address and occupation of the independent and reliable witnesses section, enter the name and address of 2 witnesses.
  • In the Place of Filing LUT field, enter the place.
  • In the Name of Primary/ Other Authorized Signatory drop-down list, select the name of authorized signatory.
  • In the Place field, enter the place where the form is filed.
  • Save the form & confirmation about Saving will be displayed.
  • You can navigate to Services > User Services > My Saved Applications to retrieve the saved application later & preview it.
  • Click the SIGN AND FILE WITH DSC or SIGN AND FILE WITH EVC button.
  • Click the proceed.
  • The system generates an ARN and displays a confirmation message.
  • GST Portal sends the ARN at registered email and mobile of the Taxpayer by e-mail and SMS.
  • You can click the DOWNLOAD button to download the acknowledgement.
 

Process of Renewal of LUT

In order to renew the LUT form on have to follow below steps:

  • Visit the GST Portal and login to your Account.
  • Go to Services > User Services > Furnish LUT.
  • Select the Financial Year for which you want to apply the LUT from the drop-down list.
  • Submit the previous letter of Undertaking in PDF or JPEG format.
  • Verify/self-declare statements by clicking on the checkboxes.
  • After giving two contact details of witnesses Get sign of Authorised Signatory.
  • Preview the application.
  • Verify and submit by either DSC or EVC.
 

On submission GST portal will generate a receipt of acknowledgment with the ARN (Application Reference Number). This ARN is also the approval of LUT renewal.

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Khush Trivedi
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Category GST   Report

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