Large Taxpayer Unit

[Harsh Jindal]

What is LTU? What are the fascilities availiable to a LTU?

AI Summary

Specialized Tax Office Simplifies Tax Processes for Large Taxpayers with Centralized Services and Reduced Compliance Costs A Large Taxpayer Unit (LTU) is a specialized tax office under the Department of Revenue, serving as a single window for all tax-related matters, including Central Excise, Income Tax, Corporate Tax, and Service Tax. LTUs offer facilities like centralized filing of tax returns, electronic documentation, and personalized assistance through a designated client executive. They allow for duty-free movement of goods between units, transfer of CENVAT credit, and self-sealing for exports. LTUs aim to reduce compliance costs, ensure timely refunds, and maintain uniformity in tax practices. Currently, LTUs are available in major cities like Delhi, Chennai, Bangalore, Kolkata, and Mumbai.