GSTN Enabled LUTs facility on GST Portal for FY 2022-23

GSTN Enabled ability to file LUTs on GST Portal for FY 2022-23

 

  • Goods & Service Tax Network has enabled facility for filing Letter of Understanding for FY 2022-23 on the Goods & Service Tax Portal.

  • Letter of Understanding application is needed to be submit before 31st March 2022, on or before supply for Special Economic Zone and Exports.
  • Except for those who have been prosecuted for any offence under the CGST Act, the IGST Act, 2017 or any other existing law & amount of tax evaded in such cases exceeds 250 lakh rupees, all registered persons who intend to supply goods or services for export without payment of integrated tax have been granted the Letter of Understanding facility.
  • Whenever an acknowledgment for a Letter of Understanding with the Application Reference Number (ARN) is created online, it is believed to have been approved. GSTN considers Letter of Understanding to be acceptable. There is no need to wait for Letter of Understanding approval because it is instantaneous.

Keynote: The Last year Letter of Understanding has been valid upto 31st March 2022 only.

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Rajput Jain & Associates

Rajput Jain & Associates is a Chartered Accountants firm, with it's headquarter situated at New Delhi (the capital of India). The firm has been set up by a group of young, enthusiastic, highly skilled and motivated professionals who have taken experience from top consulting firms and are extensively experienced in their chosen fields has providing a wide array of Accounting, Auditing, Taxation, Assurance and Business advisory services to various clients and their stakeholders. Rajput jain & Associates, a professional firm, offers its clients a full range of services, To serve better and to bring bucket of services under one roof, the firm has merged with it various Chartered Accountancy firms pioneer in diversified fields. We have associates all over India in big cities. All our offices are well equipped with latest technological support with updated reference materials. We have a large team of professionals other than our Core Team members to meet the requirements of our prospective clients including the existing ones. However, considering our commitment towards high quality services to our clients, our team keeps on growing with more and more associates having strong professional background with good exposure in the related areas of responsibility.

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