Dear Experts,
Can I export some shipments under LUT as well as some shipments on payment of IGST in a same tax period, and claim refund claims of ITCas well as IGST respectively of export shipments.
Can I export under LUT during a tax period and switch over to on payment of IGST in alternate tax period.
Being IGST is set off in electronic credit ledger once for a month at the time of filling GSTR 3B, How export on payment of IGST would be treated, It would be payable at the time of export and will be paid from ITC at the time of GSTR3B return. Would it be treated as IGST on payment of IGST.Is it allowed in GST act.
Exporters Can Use Both LUT and IGST Payment in Same Period; Ensure Accurate Filings for Timely Refunds. An individual inquired about the possibility of exporting shipments under both Letter of Undertaking (LUT) and Integrated Goods and Services Tax (IGST) payment within the same tax period and claiming refunds for both. Responses clarified that it is permissible to export under LUT and on IGST payment, and claim respective refunds, with no restrictions on such transactions. However, delays in IGST refund processing were noted due to errors in return filings. Exporters are advised to ensure accurate information in their GST returns and shipping bills to facilitate seamless refund processing. The government is committed to expediting refunds. (AI Summary)
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