Export of service

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615 Points Posted on 22 February 2021
Do I have to submit LUT if my turnover is below 20 lakhs?
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On 22 February 2021 at 16:19 Report
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Quick Summary
This discussion clarifies the requirement for submitting a Letter of Undertaking (LUT) for service exports, particularly for businesses with a turnover below £20 lakhs. It explains that any registered taxpayer exporting goods or services can use LUTs, with specific exclusions for those prosecuted for significant tax evasion. The consensus is that LUT submission is generally required.

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Master in Accounts & high court Advocate
9620 Points Posted on 22 February 2021

Who can use Letter of Undertaking (LUT) and Bonds for exports. Any registered taxpayer exporting goods or services can make use of LUTs. However, any person who has been prosecuted for tax evasion for an amount of Rs. 2.5 Crores or above under the act is not eligible to furnish LUTs.

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On 22 February 2021 at 16:33
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GST Consultant
15986 Points Posted on 22 February 2021
Yes you have to furnish LUT
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On 22 February 2021 at 18:29
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Chartered Accountant
24588 Points Posted on 22 February 2021
Yes you have to furnish
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On 22 February 2021 at 22:45

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