LUT (Letter of Undertaking) registration is a crucial requirement for Indian exporters under the GST regime. It allows exporters to export goods without paying IGST upfront, improving cash flow and competitiveness in international markets. Asktrix provides comprehensive LUT registration services to help businesses streamline their export processes.
To be eligible for LUT registration, businesses must meet certain criteria:
Our streamlined process ensures quick and hassle-free LUT registration:
Collect all necessary documents including GST registration certificate, bank account statements, export invoices, business PAN, and declaration letter. Our team will guide you through the document preparation process.
Schedule a consultation with our GST experts who will review your documents, assess eligibility, and provide guidance on the LUT registration process. We ensure all requirements are met before proceeding.
We prepare and file your LUT application with the GST portal, ensuring all information is accurate and complete. Our team handles the entire filing process on your behalf.
The GST authorities review your application and may request additional documents or clarifications. We coordinate with authorities and provide any required information promptly.
Once approved, the LUT certificate is issued and you can start exporting goods without paying IGST upfront. We provide ongoing support for compliance and renewal.
The following documents are essential for LUT registration:
Find answers to common questions about LUT registration, eligibility, documents, process, benefits, and compliance requirements.
LUT (Letter of Undertaking) is a document that allows exporters to export goods without paying IGST upfront, improving cash flow and competitiveness in international markets.
Businesses with valid GST registration, no tax defaults, export activities, and no pending litigation are eligible for LUT registration.
Required documents include GST registration certificate, bank statements, export invoices, business PAN, and declaration letter.
The LUT registration process typically takes 7-15 working days, depending on document completeness and authority review.
Yes, but you would need to pay IGST upfront and claim refund later, which affects cash flow and competitiveness.
LUT registration is not mandatory but highly recommended for exporters to avoid upfront IGST payments and improve cash flow.
If rejected, you can address the issues mentioned in the rejection letter and reapply. Asktrix helps resolve rejection issues and resubmit applications.
LUT is typically valid for one financial year and needs to be renewed annually before the expiry date.
Yes, LUT can be amended for changes in business details, but amendments must be filed within 30 days of the change.
Non-compliance can result in LUT cancellation, penalties, and requirement to pay IGST on exports. Regular compliance monitoring is essential.
Yes, LUT holders must continue filing all applicable GST returns to maintain compliance and LUT validity.
LUT can be used for most export transactions, but certain specific exports may have additional requirements or restrictions.
No, LUT registration needs to be renewed annually before expiry to continue enjoying the benefits.
With LUT, you don't pay IGST upfront, so there's no refund process. The benefit is avoiding upfront payment and improving cash flow.
Yes, Asktrix provides comprehensive support for LUT renewal, including document preparation, filing, and compliance monitoring.
Yes, individuals with GST registration and export activities can apply for LUT registration.
LUT registration is free on the GST portal, but professional services for document preparation and filing may have associated costs.
You can track LUT application status through the GST portal using your application reference number. Asktrix also provides regular updates.
LUT applications must be submitted online through the GST portal. Offline submission is not available for this process.
Not registering for LUT means paying IGST upfront on exports, affecting cash flow, competitiveness, and requiring complex refund processes.
Streamline your export process with LUT registration through Asktrix. Our expert team ensures smooth registration, compliance, and ongoing support for your export business success.