TaxTMI 
TaxTMI 
We are looking the LUT certificate would somebody help us.
Zero Rated
15 Dec 2017 
4 Replies 
1607 Views Asked by
Letter of Undertaking enables export without payment of integrated tax, subject to documentary conditions and enforceable guarantees.
Letter of Undertaking (LUT) is an alternative to a bond or bank guarantee permitting export of goods or services without payment of integrated tax under rule 96A. FORM GST RFD-11 prescribes particulars for bank guarantees, a declaratory undertaking to export within specified time, compliance with GST provisions, and liability to pay integrated tax with interest if exports fail. LUT approval requires application to the GST range office with IEC, GSTIN, export certificates and a request letter; the department may invoke guarantees or require payment on noncompliance. (AI Summary)
Letter of Undertaking (LUT) is an alternative to a bond or bank guarantee permitting export of goods or services without payment of integrated tax under rule 96A. FORM GST RFD-11 prescribes particulars for bank guarantees, a declaratory undertaking to export within specified time, compliance with GST provisions, and liability to pay integrated tax with interest if exports fail. LUT approval requires application to the GST range office with IEC, GSTIN, export certificates and a request letter; the department may invoke guarantees or require payment on noncompliance. (AI Summary)