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Documents Required for :
GST Lut Filing Registration

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GST Lut Filing Registration in India

GST (Goods and Services Tax) Lut (Letter of Undertaking) filing is crucial for businesses engaged in exports, enabling them to supply goods or services without paying integrated tax. This process simplifies the export procedures by eliminating the need for upfront payment of taxes and subsequent refunds.

Understanding GST Lut Filing

GST Lut is filed under GST to facilitate exports under bond or Lut, ensuring seamless business operations without cash outflow for tax payment. This filing is available for exporters who meet certain criteria and intend to export goods or services without paying IGST.

Key Benefits of GST Lut Filing

The GST LUT (Letter of Undertaking) filing offers several key benefits for businesses engaged in the export of goods or services. Here are the primary advantages:

Cash Flow Management:

One of the most significant benefits of GST LUT filing is that it allows exporters to supply goods or services without paying integrated tax (IGST). This helps in preserving working capital as exporters do not have to block funds by paying taxes upfront and then claiming refunds later.

Competitiveness in Global Markets:

By eliminating the cost of taxes on exports, GST LUT filing enhances the competitiveness of Indian exporters in international markets. It reduces the overall cost of exported goods or services, making them more attractive to global buyers.

Simplified Export Procedures:

GST LUT simplifies the export procedures by removing the requirement to pay IGST at the time of export. This streamlines the administrative process and reduces paperwork associated with tax refunds.

Operational Efficiency:

With GST LUT, exporters can focus more on their core business activities rather than managing tax refunds and compliance issues related to upfront tax payments.

Compliance Benefits:

It ensures compliance with GST regulations for export transactions without the need for a bond or cash deposit, thereby reducing administrative burdens and compliance costs.

Facilitation of Export Growth:

GST LUT promotes export growth by providing a hassle-free mechanism for exporters to conduct their business globally. It encourages more businesses to participate in international trade activities.

Eligibility Criteria for GST LUT Registration

The eligibility criteria for GST LUT (Letter of Undertaking) registration are generally as follows:

Exporter of Goods or Services:

The entity applying for GST LUT registration must be engaged in the export of goods or services.

GST Registration:

The applicant should have a valid GST registration under the Goods and Services Tax Act.

No Tax Liability:

The exporter should not have any tax arrears exceeding ₹2 lakh (₹1 lakh for Special Category States) that have been outstanding for more than 3 months.

Compliance with Law:

The applicant must have a clean compliance record, adhering to all GST regulations and filing requirements.

Fulfillment of Conditions:

The applicant should fulfill any additional conditions specified by the GST authorities for availing the benefit of export without payment of integrated tax.

Bank Account:

The exporter should have a valid bank account in India.

Steps for GST Lut Filing Registration

Eligibility Check:

Ensure your business meets the criteria set by GST authorities for Lut filing.

Online Registration:

Visit the GST Lut Filing Registration portal and fill out the registration form with accurate details.

Document Submission:

Upload necessary documents such as GSTIN, PAN, bank account details, and authorization letter.

Verification Process:

The GST department verifies the application and documents submitted.

Approval:

Upon successful verification, GST Lut filing registration is approved, and a unique Lut number is issued.

GST LUT registration with FilingLounge: Why Choose Us?

When choosing FilingLounge for your GST LUT registration, you benefit from a streamlined and efficient process designed to simplify your compliance needs. Here are some reasons why you should choose us:

Expertise and Experience:

FilingLounge brings years of expertise in handling GST registrations and filings. Our team understands the nuances of GST LUT registration and ensures accurate and timely submissions.

User-Friendly Platform:

Our online platform makes it easy for you to initiate and complete your GST LUT registration from anywhere, at any time. You can fill out forms, upload documents, and track progress conveniently.

Comprehensive Guidance:

We provide comprehensive guidance throughout the registration process. From eligibility criteria to document submission, our experts are here to assist you every step of the way.

Quick Turnaround:

We prioritize efficiency and aim for quick turnaround times. Once your documents are verified and submitted correctly, we ensure prompt processing of your GST LUT registration.

Transparent Pricing:

At FilingLounge, we believe in transparent pricing with no hidden costs. You'll know exactly what to expect, ensuring peace of mind and budget certainty

Customer Support:

Our dedicated customer support team is available to answer your queries and provide assistance whenever you need it. We're committed to ensuring a smooth experience for our clients.

Compliance Assurance:

With FilingLounge, you can rest assured that your GST LUT registration is compliant with all regulatory requirements. We stay updated with the latest GST guidelines to keep your business operations seamless.

Choosing FilingLounge for your GST LUT registration means choosing reliability, efficiency, and expert support throughout the process. Let us simplify your compliance journey so you can focus on growing your business.

Related Guides

Documents Required For GST Lut Filing

Proprietorship vs Limited Liability Partnership (LLP) vs Company

Features Proprietorship Partnership LLP Company
Definition A sole proprietorship is an unregistered business entity managed by a single individual. A legal contract between multiple parties to jointly manage and run a business operation. A business type that combines aspects of a partnership and the limited liability of a corporation. A registered business where owners and shareholders have limited liability.
Ownership
  • Single individual
  • Min 2 Partners
  • Max 50 Partners
  • Designated Partners: Min 2(No upper limit)
  • Min: 1 shareholder (for a private company), 7 shareholders (for a public company)
  • Max: 200 shareholders (for a private company), no upper limit (for a public company)
For One Person Company
  • Minimum: 1 individual
  • Maximum: 1 individual
Registration Time 7-10 working days
Promoter Liability Unlimited Liability Limited Liability
Documentation
  • Partnership Deed
  • PAN card of the partnership firm
  • LLP Agreement
  • Incorporation Certificate
  • PAN card of the LLP
  • MOA
  • AOA
  • Certificate of incorporation
  • PAN card of the company
Governance No specific governing law Governed by the terms outlined in the partnership deed Governed by the LLP agreement Governed by a formal structure including a Board of Directors
Transferability Business cannot be transferred Ownership transfer requires the consent of all partners as outlined in the partnership deed. Transferable Easily Transferable for public companies. In private companies, there might be some restrictions.
Compliance Requirements
  • Income tax filing if the turnover exceeds Rs. 2.5 lakhs.
  • Must file ITR 5
  • Must file ITR 5
  • File Form 11
  • Form 8
  • MCA filing
  • Auditor's appointment
  • File ITR 6

GST Lut Filing FAQ's

What is the registration process of a company?

The registration process of a company is done under the Ministry of Corporate Affairs (MCA) in accordance with the Companies Act 2013.
  • Step 1: Apply For Director Identification Number (DIN)
  • Step 2: Apply For GST Lut Filing Certificate (DSC)
  • Step 3: Company Name Approval
  • Step 4: Company Incorporation Application Submission
  • Step 5: Get a Certificate of Incorporation

How much does it cost to register a company?

The cost of registering a company in India varies according to the number of stakeholders and size. The Cost of Incorporation of a GST Lut Filing would vary from Rs.6, 000 - to Rs. 30,000/- depending upon the following:
  • Number of Directors
  • Number of Members
  • Authorized share capital
  • Professional fees

What are the types of registration?

Company registration is mandatory in India to start any business, so fixing the business structures is crucial. In India, there are seven different types of company registration:
  • Sole Proprietorship Registration
  • One-person Company Registration
  • Partnerships Firm Registration 
  • Limited Liability Partnership (LLP) Company Registration
  • GST Lut Filing Registration
  • Public Limited Company Registration
  • Section 8 Company Registration
 

Can NRIs or foreign national or foreign entities register a company in India?

Yes, NRIs, foreign nationals, and foreign entities can register a company and invest in India, subject to the Foreign Direct Investment norms set by the RBI. However, incorporation rules in India require for one Indian national to mandatorily be a part of the company on the Board of Directors.

How do I check the availability of names for my company?

You can use the FilingLounge company name availability search tab to search for available names in India. It is important to note that FilingLounge would just provide available choices, based on identical names already registered.

Is GST Lut Filing registration mandatory at this stage?

GST Lut Filing registration is mandatory for certain businesses. Companies dealing with e-commerce operations or any other interstate activity and companies with turnover of more than Rs. 40 Lakhs are required to obtain the same. GST Lut Filing registration takes just 3-5 working days with FilingLounge.

What are the compliances of a Business Plan?

A company is required to maintain certain compliances once it is incorporated. An auditor needs to be appointed within 30 days and income tax filing and annual return filing need to be done every year. Apart from these, mandatory compliances like ‘Commencement of Business’ forms, and DIN eKYC also need to be done.

When is the Business Plan auditor to be appointed?

The Board of Directors is required to appoint a practicing Chartered Accountant within 30 days of Incorporating a Business Plan.

Which Form is to be filed for the ITR filing of Business Plan?

The Private Limited Companies that are registered in India have to file the ITR returns each year in Form ITR 6.

Which form is to be filed for filing the annual returns of a Company?

The companies registered in India are required to file the MCA annual return each year informs AOC 4 and MGT 7.

How many members are required to start a Business Plan?

Minimum 2 number of members are required to start a Business Plan which can be extended to 200 members.

How can ownership be transferred?

The ownership of a Business Plan can be transferred by the way of shares.

How are the Companies taxed? What are the tax rates?

Private Limited Companies are taxed at 30% plus the surcharge and cess as applicable.

Who governs and controls the functioning of a Business Plan?

The MCA and Companies Act,2013 controls the functioning of a Business Plan.

What are the benefits of registering a Business Plan?

There are various of registering as a Business Plan like Limited Liability, Access to funding, borrowing capacity, greater capacity, easy exit, and scope of multiple opportunities.

What is authorized capital and paid-up capital?

Authorized capital is the maximum value of equity shares that can be issued by a company. On the other hand, paid up capital is the amount of shares issued by the company to shareholders. Authorized capital can be increased any time after incorporation to issue additional shares to the shareholders.

What is limited liability protection?

Limited liability is the status of being legally responsible only for a limited amount of debts of a company. Unlike proprietorships and partnerships, the liability of the shareholders with respect to the company’s liabilities is limited.

How do I open a current account?

Once the company is incorporated, a current account needs to be opened in the name of the company for transactions. Your advisor will guide you through the process of choosing the bank that you want to open the account with and get the documents like certificate of incorporation, Memorandum and Articles of Association, board resolution, copy of PAN allotment letter, and utility bill.

Related Business Registrations

In addition to registration or incorporation, a business may require other registrations depending on the business activity undertaken. Talk to an Advisor to find out registrations your business may require post registration.

FSSAI Registration
IE Code
Trademark Registration
Copyright Registration
Salaried Tax-filing
GST Return Filing

MCA Compliance

Each registered entity is required to meet its compliance duties at the close of each financial year. This generally includes auditing financial statements, filing income tax returns, and submitting annual forms to the Ministry of Corporate Affairs (MCA).

Compliance For Form Due date Penalty
Commencement of Business Intimation to Registrar for Commencement of Business Within 180 days from incorporation INR 50,000 on company and INR 1,000 per day on directors for each day of default
Annual KYC of Directors DIR 3 E-KYC 30th September of every year INR 5,000 for late filing
Appointment of Auditor Form ADT 1 Within 15 days of the AGM INR 300 per day (max INR 12,000)
Financial Statements Form AOC 4 Within 30 days from the AGM INR 100 per day of default
Annual Return Form MGT 7 Within 60 days from the AGM INR 100 per day of default

All Limited Liability Partnerships (LLP) in India must file annual returns with the Ministry of Corporate Affairs (MCA). FilingLounge provides affordable services to help you keep your LLP compliant.

LLP Compliance Form Due date Penalty
Annual KYC of Directors DIR 3 KYC 30th September of every year INR 5,000 for late filing
Annual Return Form 11 May 30th every year INR 100 per day of default
Statements of Accounts and Solvency Form 8 30th October every year INR 100 per day of default (minimum penalty INR 10,000)

In addition to the filings listed above, there may be other compliance requirements relevant to LLPs. To ensure all compliance needs of your LLP are met, please seek assistance from a Filinglounge Advisor.

Entity Compliance Form Due date
Private Limited Company Annual Return MGT-7 Within 60 days from the conclusion of the AGM
Financial Statements AOC-4 Within 30 days from the conclusion of the AGM
DIR-3 KYC DIR-3 KYC 30th September every year
Return of Deposits DPT-3 30th June every year
Appointment of Auditor ADT-1 Within 15 days from the conclusion of the AGM
Income Tax Return (Non-audit case) ITR-6 31st July every year
Income Tax Return (Audit case) ITR-6 30th September every year
Annual GST Return GSTR-9 31st December of the subsequent financial year
MSME Form Form 1 (MCA) half-yearly return by 31st October (April to September), & 30th April for the period October to March every year
Limited Liability Partnership Income Tax Return (Non-audit case) ITR 5 31st July every year
Income Tax Return (Audit case) ITR 5 30th September every year
Annual Return Form 11 30th May every year
Financial Statements Form-8 30th October every year

Note : There might be extra filings needed depending on your business type and activities. Talk to a FilingLounge advisor to get the right guidance for your company's compliance.