hi
we want to export this year approx 50 lakh and last year our export value are 20 but in GST lut notification it is mentioned preceding year export value are more than 1 crores
so can I eligible for LUT.
pls reply...
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Regards lut eligibility
Replies (6)
That condition for requirement of certain quantum of foreign currency is not required anymore.So you can opt for LUT
yes it was earlier of 1 crore ,now it is not
Thanx,
Pls refer to notification against this lut from GST website
Please refer Not.No 37/2017-CT dated 04-10-17
Thanks a lot
The department has issued a circular in oct-2017, removing turnover limit for LUT. Hence you can submit LUT even if your turnover is less than 1 crore
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