1: “Export under bond/LUT” means an export invoice raising without IGST. Businesses need to take a Letter of Undertaking (LUT) from GST department.
2: “Export with IGST” mean businesses can raise an invoice with IGST payment and apply for refund after the payment.
3: “SEZ with IGST payment” apply to businesses who exporting to Special Economic Zones (SEZ). The supply of goods to an SEZ is treated as a zero-rated supply, which means the taxes on the export need not be paid.
4: “SEZ without IGST payment” also apply to businesses who exporting to Special Economic Zones (SEZ) but can take LUT certificate and can raise invoice without GST.
5: “Deemed Export” apply to businesses with future trade agreements. All deemed exports are mandatory for IGST payments. Supply cannot be made under LUT/ Bond for deemed exports.