I have applied for GSTIN. Still not received because of corona delay. But i have income waiting for me in usa. I will be able to file LUT only after GSTIN.
So, can i receive foreign income without LUT in the meantime. I will apply for LUT immediately right after reception of GSTIN.
Should i pay GST on those income received before LUT ?
If opt for LUT,
Is it needed to pay tax and then claim refund?
what if payment is received after filing LUT.
LUT is required or not in case of export of IT services?
If LUT is not filed, the exporter must first pay the required tax while making exports and then claim a refund to avail benefit of zero-rated exports. An LUT is required to be filed on the letterhead of the registered person who intends to supply goods/services without the payment of integrated tax. The LUT must be duly applied for in the prescribed GST RFD-11 form. It can be filed by the MD, company secretary, or other authorized people.
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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