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If your business exports goods or services, you can export without paying Integrated Goods and Services Tax (IGST) by filing a Letter of Undertaking (LUT). The GST LUT filing allows exporters to make supply of goods or services without payment of IGST, subject to conditions. WeIncept offers seamless assistance with GST LUT filing to ensure that your exports are tax-free and compliant with GST regulations.

What Is GST LUT?

A Letter of Undertaking (LUT) is a document that businesses must submit to the government to export goods or services without the payment of IGST. By filing LUT, businesses can reduce their working capital blockages and avoid the hassle of paying taxes first and then claiming a refund. The LUT is valid for one financial year and must be renewed annually.

Key Services Offered by WeIncept for GST LUT Filing:

• LUT Preparation and Submission: We prepare and file the LUT application on your behalf, ensuring that all details are accurate and complete.
• Timely Renewals: We monitor the expiration date of your LUT and assist with timely renewal to avoid any interruptions in export operations.
• Tracking LUT Status: We help track the status of your LUT filing with the GST department and follow up to ensure approval.
• Expert Consultation: Our team provides expert consultation on the eligibility and conditions for filing LUT to help you make informed decisions.

Documents Required for GST LUT Filing:

The following documents are typically required for GST LUT filing:

• GST registration certificate (GSTIN)
• Form GST RFD-11 (Letter of Undertaking)
• Exporter's PAN card
• Authorized signatory's Aadhar card
• Bank details and IEC code (for exporters)
• Declaration of no prosecution in the last 5 years

Benefits of Filing GST LUT:

• Export Without IGST Payment: Filing LUT allows exporters to ship goods or services without the burden of paying IGST upfront, thereby saving working capital.
• No Need for Refund Claims: Avoid the cumbersome process of paying IGST and then claiming a refund by filing an LUT.
• Hassle-Free Exports: LUT facilitates the smooth export of goods and services without any tax-related interruptions.
• Quick Process: Once the LUT is filed, the approval is usually granted quickly, allowing businesses to continue their export activities without delay.

Step-by-Step Process for GST LUT Filing:

1. Eligibility Check: We first check whether your business is eligible to file GST LUT by ensuring compliance with the criteria set by the GST department.
2. Preparation of LUT Application: Our experts prepare Form GST RFD-11 and gather all the necessary documents required for LUT submission.
3. Submission of LUT: We file the LUT application on the GST portal on your behalf, ensuring all details are accurate.
4. Approval & Follow-Up: We track the status of the LUT application and follow up with the GST department for quick approval.
5. Annual Renewal: We assist with the annual renewal of LUT to keep your export operations running smoothly.

Why Choose WeIncept for GST LUT Filing?

• Expert Guidance: Our team of experts ensures that your LUT application is filed correctly, reducing the chances of rejection or delay.
• Compliance Monitoring: We track the due dates for LUT renewals and assist you in renewing the LUT in time to avoid business disruptions.
• Cost-Effective Solutions: We offer affordable and comprehensive GST LUT filing services, ensuring maximum value for your business.
• End-to-End Support: From document preparation to LUT submission and follow-up, we provide complete support throughout the filing process.

Eligibility Criteria for Filing LUT:

Businesses can file LUT under GST if:

• They are registered under GST.
• They have not been prosecuted for any tax-related offenses involving an amount exceeding ₹250 lakh in the last five years.

Consequences of Not Filing LUT:

• Payment of IGST on Exports: Without filing LUT, exporters must pay IGST on exports and then claim a refund, resulting in unnecessary delays and blocked working capital.
• Disruption in Export Activities: Failure to file or renew LUT on time can result in disruption to export operations, affecting business revenue and growth.
• Increased Compliance Burden: Not filing LUT increases the compliance burden on businesses, as they must manage tax payments and refund claims simultaneously.

How WeIncept Ensures Smooth GST LUT Filing:

• Proactive Approach: We take a proactive approach to monitor your business's LUT status and ensure that the process is completed on time.
• Compliance Experts: Our team consists of compliance experts who stay up to date with the latest GST regulations to provide accurate and efficient services.
• Focus on Business Continuity: We focus on ensuring that your business operations are not interrupted by tax-related compliance issues.
• Complete Confidentiality: We ensure the confidentiality and security of all your business documents and information during the LUT filing process.

Get Started with WeIncept Today!

Take the next step toward establishing a firm and grow your business with the WeIncept's comprehensive solutions. Contact WeIncept at info@weincept.com or call +91 8595714205 to get started today. Let our experienced team guide you through the entire registration process so you can focus on building your business!