LUT
This query is : Resolved
07 September 2020
WE SUPPLY GOODS TO MERCHANT EXPORT @ 0.1%. IS IT COMPULSORY FOR US TO TAKE LUT OR WE DOES NOT WANT TO TAKE LUT
07 September 2020
If you do not furnish LUT then you will have to pay IGST.
07 September 2020
THANKS FOR THE REPLY. WE AND THE MERCHANT EXPORTER IN THE SAME STATE THEN ALSO IGST APPLICABLE. FURTHER IF LUT IS NOT TAKEN ALSO FOR PREVIOUS YEARS SHALL WE HAVE TO PAY FULL TAX AS OUR PRODUCT IS @ 18% GST
07 September 2020
You need to check whether such transaction of sale to Merchant exporter qualified as 'sale in the course of export' or not as per the underlying conditions prescribed in GST legislation. IGST applied in case of Export/Import transactions, as such transactions are never being considered as Intra-State transactions.
GST portal will not permit you to file LUT for previous years now.
GST portal will not permit you to file LUT for previous years now.
07 September 2020
No,You do not need to have LUT.It is the merchant exporter who needs to execute LUT .
07 September 2020
THANKS SIR FOR YOUR REPLY
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- Pass word to open justification report for Q1 for FY 2026-27
- Section 194JA & JB Income which ITR Form to use
- PPF interest-As Exempt Income disclosure
- Scrutiny and reopening of past returns
- Booth for sales promotion
- Type of Capital Gain
- F & O PROFIT REPORTING FOR AY 2026-27
- FEMA regulation Act. for inward remitance
- Grand in aid
- TDS on Rent received on redevelopment of building
- Tax on Deemed Capital Gain
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
