May 7, 2019

LUT Under GST

Letter of Undertaking Under GST

Documents required for LUT Bond

Given below are the documents required for the Letter of Undertaking:—

  • Cover letter requesting acceptance of LUT
  • One copy of GST registration Bond
  • Two sets of original Form GST-RFD-11
  • Two sets of original Annexure of LUT on the letterhead of the entity. Remember the signature of all undertakers should be verified by the Bank Manager. Two witnesses are also required.
  • This Annexure of LUT should be notarized.
  • The personal IDs of both the witnesses must be attached. The details mentioned in the LUT must be matched with the name and address on personal IDs.
  • Personal IDs and PAN Card of all undertakers.
  • Incorporation documents of an entity such as a Bond of incorporation for the company, Partnership deed for a partnership firm.
  • PAN Of entity
  • A copy of Authorization letter authorizing director/ board resolution/ partner to file an application.
  • Self-declaration on letterhead for the eligibility of LUT
  • Invoices summary raised against export sales and get it certified from Chartered Accountant. Then attach all invoices of export sales.
  • Collections summary against export sales during the year and get it certified from Chartered Accountant.
  • Then attach all evidence for such collections.
  • A copy of the IEC Code, If any

Bank Guarantee
The export facility under Letter of Undertaking has been extended to all registered persons, a bond will be required to be furnished by those persons who have been prosecuted for cases involving an amount exceeding Rs. 250 lakhs. In all the cases, a bond shall be accompanied by a bank guarantee of 15% of the bond amount.