LUT Saga under GST - CAclubindia

In recent times, exporters across the country have witnessed a disturbing trend under the GST administration. Show Cause Notices (SCNs) are being issued proposing demand of tax, interest, and penalty under  Section 74 of the CGST Act, 2017 , solely on the ground that a Letter of Undertaking (LUT) was not furnished while exporting goods or services without payment of IGST, as required under Ru…