LUT LETTER OF UNDERTAKING SUBMISSION.
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Dear Sir,
Our Company designs Airports..we do consultancy services…marketing for Airports Spares & products…
During Financial Year 2017-18..we were given design work for Airport in Maldive by a Singapore based Company..we had raised Invoices in USDolaars and have received Foriegn Remittances in US Dollars..the invoices were raised without GST As adviced by our C.A..lut was not submitted during that time..the total export turnover was Rs. 24.65 lakhs..do we require to submit LUT FOR 2017-18?..As per Circular regarding LUT..IT SAYS THAT 10% OF EXPORT TURNOVER SHOULD HAVE BEEN RECEIVED BY FOREIGN REMITTANCE MINIMUM Rs. 1 Crore..our total turnover was less than 1 cr and we had received full payment..
Similarly for 2018-19..total export turnover will be around 1.22 cr so far we have recived around Rs.87.60 lakhs and By March 2019 we will receive the balance amount ..Do we require to submit LUT FOR 2018-19?..
kindly guide and also how to show the export invoices without GST IN GSTR-1?
With Regards
A.D.GUPTA.
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LUT is required to be filed once for every financial year in which you make export sale of goods (even of Re.1/-), preferably in the beginning of year, irrespective of the exporter status of the exporter.
For return filing use offline utility of GSTR-1, table no. 6a or 6b, as the case may be. It provides for flagging the transaction as “wo” for export made without payment of tax and thereafter fill other necessary documents details, if required and upload the return.
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