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GST LUT Filing for Exporters in Tamil Nadu
File Your GST LUT with Ease – Tax-Free Exports for Tamil Nadu Businesses
Are you an exporter in Tamil Nadu looking to simplify your tax compliance? The GST LUT (Letter of Undertaking) allows exporters to conduct business without paying Integrated Goods and Services Tax (IGST) at the time of supply. At Petax Filings, we ensure a smooth and hassle-free GST LUT filing process, enabling you to focus on expanding your export operations.
What is LUT in GST?
The Letter of Undertaking (LUT) in GST is a document that allows exporters to supply goods or services internationally without paying IGST upfront. This provision benefits businesses by improving cash flow and reducing the burden of claiming refunds.
Who Can Apply for GST LUT?
Exporters engaged in the supply of goods and services outside India, including Special Economic Zones (SEZs), can apply for a GST LUT. However, businesses prosecuted for tax evasion exceeding Rs. 250 lakh are ineligible for this facility.
Eligibility Criteria for LUT Registration
- Registered Exporters: Businesses must have a valid GST registration.
- Intent to Export: Goods or services should be exported outside India or to SEZs.
- Tax-Free Supply: LUT applies to zero-rated exports without IGST payment.
Documents Required for GST LUT Filing
To file a GST LUT in Tamil Nadu, you’ll need the following documents:
- LUT Cover Letter (signed by an authorized person)
- GST Registration Certificate
- PAN Card of the Business Entity
- KYC Documents of the Authorized Signatory
- GST RFD-11 Form (LUT Application Form)
- Importer Exporter Code (IEC) (if applicable)
- Cancelled Cheque from the business bank account
- Authorization Letter for the person filing the LUT
Benefits of GST LUT Filing for Exporters
Filing a GST LUT offers multiple advantages for Tamil Nadu-based exporters:
1. Export Without IGST Payment
By filing an LUT, businesses can avoid upfront IGST payments on exports, ensuring better liquidity and financial stability.
2. Simplified GST Compliance
With an LUT, exporters do not need to apply for IGST refunds, reducing paperwork and compliance hassles.
3. Improved Cash Flow for Businesses
Since businesses do not need to pay tax upfront and claim refunds later, cash flow remains unblocked for operational needs.
4. Valid for One Financial Year
An LUT remains valid for one financial year, eliminating the need for frequent submissions.
5. No Additional Bank Guarantee
Unlike bonds, LUT filing does not require businesses to provide a bank guarantee, making it a cost-effective option.
Understanding GST LUT vs. Bonds
If an exporter does not qualify for LUT, they must furnish a bond with a bank guarantee covering the estimated tax liability. The LUT and bond apply in cases such as:
- Zero-rated supply to SEZs (without IGST payment)
- Export of goods or services outside India (without IGST payment)
Key Points to Remember About GST LUT
- Annual Renewal: An LUT is valid for one financial year and must be renewed timely.
- Official Letterhead Submission: The application must be filed on company letterhead.
- Authorized Signatory: The GST RFD-11 form can be signed by the MD, company secretary, partner, or proprietor.
- Conditional Compliance: Failure to meet LUT conditions may result in privilege revocation, requiring the submission of a bond instead.
File Your GST LUT Easily with Petax Filings
Navigating GST LUT filing in Tamil Nadu doesn’t have to be complex. Petax Filings simplifies the process, offering expert assistance from document preparation to online submission. Our team ensures accuracy and compliance, allowing you to focus on growing your export business.
Get Started with Your GST LUT Filing Today!
- Quick & Hassle-Free Online Filing
- Expert Assistance for Tamil Nadu Exporters
- Quick online aEnd-to-End Documentation Supportpplication filing
Contact Us Now to simplify your GST LUT filing and enjoy tax-free exports effortlessly!
FAQ
Find Out Answers Here
GST registration is the process of registering a business under the Goods and Services Tax (GST) system in India. Any business exceeding the prescribed turnover limits (₹40 lakhs for goods suppliers and ₹20 lakhs for service providers) must register for GST. Additionally, businesses engaged in inter-state sales, e-commerce, or those required to pay tax under the reverse charge mechanism also need GST registration.
Registering for GST provides several advantages, including:
- Legal compliance and avoidance of penalties
- Eligibility to claim Input Tax Credit (ITC)
- Access to inter-state trade without restrictions
- Improved business credibility and opportunities for growth
- Simplified tax filing and record-keeping
Once your application is submitted with all required documents, the GST Identification Number (GSTIN) is typically issued within 3 to 7 working days.
Yes, businesses can voluntarily opt for GST registration even if they do not meet the turnover threshold. This can be beneficial for claiming Input Tax Credit and expanding business operations.
Failure to register for GST when required can lead to:
- A penalty of 10% of the tax amount due (minimum ₹10,000) for non-payment or underpayment of tax
- A 100% penalty on the tax amount for intentional tax evasion
The required documents vary by business type but generally include:
- PAN and Aadhaar of the owner or business entity
- Business registration documents (Partnership Deed, Incorporation Certificate, etc.)
- Bank account details
- Proof of business address
Yes, businesses can update details like address, contact information, and authorized signatory through an amendment process in the GST portal.
The Composition Scheme is designed for small businesses with turnover up to ₹1.5 crore, allowing them to pay a fixed percentage of turnover as tax and file returns with minimal compliance. However, businesses under this scheme cannot collect GST from customers or claim Input Tax Credit.
Once registered, businesses must file periodic GST returns online, detailing their sales, purchases, and tax liability. Petax Filings offers expert assistance for seamless GST return filing.
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- +91 90030 22270
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