Export of service
Jamil Ahmed (615 Points)
22 February 2021
Do I have to submit LUT if my turnover is below 20 lakhs?
3 Replies
Rama chary Rachakonda
(Master in Accounts & high court Advocate email ID:ramachary64@gmail.com voice no:9989324294)
(7726 Points)
Replied 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.
CA Altamush Zafar
(GST Consultant)
(15986 Points)
Replied 22 February 2021
Yes you have to furnish LUT
CA. Sourav Sarkar
(Chartered Accountant )
(24588 Points)
Replied 22 February 2021
Yes you have to furnish
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