Letter of Undertaking (LUT) application for F.Y. 2023-24 can be filed any time now in GSTN. The author has seen the functionality today in GST (www.gst.gov.in).
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Who has to furnish a Letter of Undertaking?
Any registered person availing the option to supply goods or services for export /SEZs without payment of integrated tax (IGST) has to furnish a Letter of Undertaking (LUT) before making export/SEZs supply.
Example of transactions for which LUT can be used are:
- Zero rated supply to SEZ without payment of IGST.
- Export of goods to a country outside India without payment of IGST.
- Providing services to a client in a country outside India without payment of IGST.
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