LUT : Applicability for Whole FY

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Practicing
126 Points Posted on 01 April 2020
If LUT is raised during 23 December 2019 in GST. Will it stand valid for the whole of FY 2019-20 starting from April 2019.

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On 01 April 2020 at 20:16 Report
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Quick Summary
This discussion clarifies the validity period of a Letter of Undertaking (LUT) for the Financial Year 2019-20. While a LUT filed during the financial year is applicable for the entire FY, tax officials can only consider it from the date it was approved or filed, not retroactively from the start of the FY.

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"Do the Right Thing...!!!"
128157 Points Posted on 01 April 2020
Yes... As per GST it's applicable to full FY.
But, Officials can't considered it before the approved date.
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On 01 April 2020 at 21:42
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GST Practitioner
55067 Points Posted on 03 April 2020
No....... it is valid from 23/12/2019 the day you filed till 31/3/2020
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On 03 April 2020 at 01:28

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