Validity of LUT

An LUT remains valid for the entire financial year in which it is submitted. However, if the exporter fails to export the goods or services within the prescribed time or does not fulfill the payment conditions under Rule 96A of the CGST Rules, the LUT facility may be withdrawn. In such cases, the exporter will need to export either by paying the applicable IGST or by furnishing a bond with a bank guarantee until compliance is restored.

When to File Form RFD-01 / RFD-01A – Refund

Form GST RFD-01 / RFD-01A is used to claim a refund of excess unutilized Input Tax Credit (ITC). Taxpayers can file this form to request a refund for unutilized ITC, any excess balance in the cash ledger, or any amount that was paid by mistake. This form must be filled and submitted online as per the GST refund procedures.