Menu
Export with LUT of previous year
Can a person export in this FY 20-21 on the basis of LUT of FY 19-20 because of Covid-19? The person is unable to take LUT as his DSC is in the office.
Replies (6)
Quick Summary
No......... ..........
However, Vide notification No. 35/2020-Central Tax, dated 03.04.2020, issued under the provisions of 168A of the CGST Act, except for few provisions covered in exclusion clause, any time limit for completion or compliance of any action which falls during the period from the 20th day of March, 2020 to the 29th day of June, 2020, and where completion or compliance of such action has not been made within such time, has been extended to 30th day of June, 2020.
So on the basis of this, can we Export without IGST without getting LUT (that is using LUT of FY 19-20)?
NO
fresh LUT / Bond for the new F.Y
Ok thanks
Fresh LUT should be applied at/before the start of each FY.
It means the due date does not fall during 20 th to 29 th for which the same is extended via N.No.35/2020 as you said.
So unless applied for fresh LUT, no benefit for not paying tax would be given.
Thank you
It means the due date does not fall during 20 th to 29 th for which the same is extended via N.No.35/2020 as you said.
So unless applied for fresh LUT, no benefit for not paying tax would be given.
Thank you
Ok got it, thanks
Recent Topics :
- Clarifications for intra day transactions
- CA FINAL FR FINANCIAL INSTRUMENTS (Ind AS 109) Dou
- 70:30 GST rule for solar EPC: partial scope (struc
- TDS on Redevelopers hardship allowance received no
- Who will take FSSAI AND TRADE LICENSE: owner or te
- E Way Bill in respect of Without Bringing Material
- FAST DS 2026 query
- Consultation
- E-way notices for FY 22-23
- Gst file not created
Related Topics :
CAclubindia
