GST LUT (Letter of Undertaking) is a declaration that allows businesses to export goods and services without paying GST. It ensures compliance while simplifying export transactions.

By filing the GST LUT, businesses can avoid paying Integrated GST (IGST) on exports and claim refunds for any taxes paid on inputs. This benefit promotes ease in cross-border trade.

The GST LUT is applicable to all registered exporters and helps in reducing the overall cost of exporting, improving business profitability. It streamlines the export process.