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A Letter of Undertaking (LUT) is a document filed by exporters under the Goods and Services Tax (GST) regime to export goods or services without paying Integrated GST (IGST). By submitting an LUT, exporters can conduct their business transactions without blocking working capital in tax payments. It serves as a guarantee that the exporter will comply with all GST regulations and export the goods or services within the prescribed timeline.
LUT is crucial for exporters as it allows them to export goods and services without the upfront payment of IGST, thus ensuring better cash flow management. Filing an LUT simplifies the compliance process and reduces the financial burden on exporters. It also eliminates the need to claim refunds later, as taxes are not paid upfront. Filing an LUT timely helps businesses stay compliant with GST laws while expanding their global reach.
KGTAX simplifies the LUT filing process by offering expert guidance, ensuring accuracy and timely submissions. Our professionals handle the documentation thoroughly, reducing the risk of errors and rejections. With personalized support and compliance management, we help businesses focus on expanding their exports while staying fully compliant with GST regulations. Trust KGTAX for seamless LUT filing and hassle-free export operations.
Get professional support for your legal and taxation requirements – contact us now.