sir iam doing business of export sales with letter of undertaken (LUT).I have 14 lakhs ITC credit.iam in the category of without payment of tax..so could I modify my export sales to without LUT which means with payment of tax for getting my input credit...then again could I migrate to LUT ????
could you please tell me
Dear Mr. Sanjay,
There is no need of any migration both with payment or without payment (LUT) are Zero rated supplies.
You can opt some supplies with payment and some without payment option. You need to mention in the invoice that what option you have taken and accordingly disclose in your monthly returns.
CAclubindia
