LUT in GST: Full form/meaning is Letter of Undertaking. It is prescribed to be furnished in the form GST RFD 11 under rule 96 A, whereby the exporter declares that he or she will fulfill all the requirement that is prescribed under GST while exporting without making IGST payment.
Inclusive of government fee and taxes.
An LUT can be submitted by any individual who is registered under GST provided he has not been executed in case of tax evasion exceeding Rs.250 lakh or any other offense.