Finance & TaxRelated Track: Global Freelancing & USD Earning →
GST LUT (Letter of Undertaking)
💡 Quick Definition: An annual online declaration filed by Indian service exporters to export services without payment of IGST (0% GST rate).
Detailed Explanation & Workplace Application
For Indian IT freelancers and agencies receiving foreign exchange (USD/EUR/GBP) via Wise or bank wires, filing Form GST RFD-11 (LUT) on the GST portal allows exporting zero-rated services legally without paying tax upfront and applying for refunds.
Practical Syntax / Framework Formula
Form GST RFD-11: Valid for 1 Financial Year (e.g. April 1 to March 31). Requires 2 witnesses and zero government filing fee.