LUT Under GST : Applicability And Usage

Category: Finance

Any registered taxpayer exporting goods or services can make use of LUT’s for exporting of goods or services without payment of tax. The facility to of export under LUT is available to all exporters in terms of notification no. 37/2017 – Central tax dated 04.10.2017 Practical usage : Every invoice should contain LUT Number on export invoices in either of the below mentioned ways : LUT number/date mentioned on invoice, or through affixing LUT Stamp on invoice containing “Export under LUT and LUT number/date” B. LUT Certificate is valid for period of 1 year i.e for one financial year and is to be apply for each financial year separately before making export transaction.