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Export Invoice (LUT, Zero-Rated) Format in Excel

Last updated: 27 June 2026

An export invoice under GST must be zero-rated — either under a Letter of Undertaking (LUT) with nil IGST, or with IGST paid upfront for a cash refund later. Beyond the standard Rule 46 fields, it needs the foreign buyer's details, country of destination, foreign currency amount, INR equivalent at the RBI/customs rate, and a mandatory declaration line. This article walks through the exact fields, both export routes, and common mistakes to avoid.

Key takeaways

  • Exports are zero-rated under Section 16 of the IGST Act — you never charge the foreign buyer standard GST rates.
  • Two legal routes: export under LUT (no IGST, ITC refund) or export with payment of IGST (pay IGST, claim cash refund).
  • LUT must be filed before your first export of each financial year via Form RFD-11 on the GST portal.
  • Your invoice must carry a mandatory declaration ("Supply meant for export under LUT" or "Supply meant for export on payment of IGST").
  • Foreign currency amount and its INR equivalent (at RBI reference rate or customs exchange rate) are both required on the invoice.
  • If your turnover exceeds ₹5 crore, e-invoicing applies to exports — generate via the IRP before raising the physical invoice.
  • Keep your FIRC (Foreign Inward Remittance Certificate) on file; it is required documentation for the refund claim.

What makes an export invoice different from a regular GST invoice?

A standard domestic tax invoice is governed by Rule 46 of the CGST Rules. An export invoice satisfies all those same fields and then adds a second layer of export-specific data. The table below shows exactly what changes.

Field Domestic tax invoice Export invoice
IGST rate Applicable slab (5 % / 18 % / 40 %) Nil (LUT) or applicable rate (IGST payment route)
Declaration line Not required Mandatory — state LUT or IGST route
Foreign buyer details Not required Name, address, country of destination
Currency INR only Foreign currency + INR equivalent
Exchange rate Not applicable RBI reference rate or customs rate on invoice date
Shipping bill / airway bill Not required Reference added when available (required for refund)
LUT / Bond ARN Not required Include ARN for LUT exports

Fact box. GST slabs as of 27 June 2026 are Nil, 5 %, 18 %, and 40 %. The 12 % and 28 % slabs were abolished on 22 September 2025. For exports under LUT, the effective rate on the invoice is always 0 % regardless of what slab the goods or services would ordinarily attract domestically.

Which export route should you choose — LUT or IGST payment?

Export under LUT (most common)

You file a Letter of Undertaking on the GST portal at the start of each financial year. This gives you permission to export without paying IGST. Your invoice shows the IGST column as "Nil". Your working capital stays intact. You recover the Input Tax Credit (ITC) on inputs through a refund application (Form RFD-01) after filing GSTR-1.

Best for: Exporters with steady input costs who want to preserve cash flow.

Export with payment of IGST

You charge IGST on the invoice at the rate applicable to those goods or services, pay it to the government, and then claim a cash refund. The refund is typically processed automatically based on your shipping bill data matched against GSTR-1 Table 6A.

Best for: Exporters with little or no input credits, or those who want the simpler refund process (automatic IGST refund vs. manual RFD-01).

What are the mandatory fields on an export invoice?

Every export invoice must include all standard Rule 46 fields (supplier GSTIN, invoice number, date, HSN/SAC, taxable value, etc.) plus the following export-specific additions:

  1. Declaration text — either "Supply meant for export under LUT" or "Supply meant for export on payment of IGST", printed clearly on the invoice face.
  2. LUT ARN — the acknowledgement reference number from the GST portal (for LUT exports only).
  3. Foreign buyer's name and address — full legal name and overseas address.
  4. Country of destination — the country to which the goods or services are exported.
  5. Currency of invoice — ISO currency code (USD, EUR, GBP, etc.).
  6. Invoice amount in foreign currency — the agreed transaction value.
  7. INR equivalent — converted at the RBI reference rate or customs exchange rate prevailing on the invoice date.
  8. IGST column — either "Nil" (LUT route) or the computed IGST amount (IGST payment route).
  9. Shipping bill / airway bill number and date — add when available; this field is not technically required on the invoice face at the time of raising, but the shipping bill number is required when filing for refund, so many exporters leave a field for it to be filled in after customs clearance.

Fact box. E-invoicing applies to exports once your aggregate turnover exceeds ₹5 crore. If your turnover is ₹10 crore or more, the 30-day IRP upload rule applies — you cannot claim ITC on invoices uploaded after 30 days of the invoice date. Generate export e-invoices on the IRP before dispatching goods.

How do you get a LUT and what does the process look like?

The LUT is filed online — there is no paper form to submit in person.

  1. Log in to the GST portal (gst.gov.in).
  2. Go to Services → User Services → Furnish Letter of Undertaking (LUT).
  3. Select the financial year, confirm the self-declarations, and submit digitally.
  4. The portal generates an ARN (Acknowledgement Reference Number) immediately.
  5. Download and save the acknowledgement — print it for your records if needed.
  6. Repeat at the start of every financial year before raising your first export invoice.

There is no fee. The LUT is valid for the full financial year (April to March). If you miss filing before your first export, you must use the IGST payment route for that invoice and file a refund claim.

How do you set up the Excel format for an export invoice?

The free Excel export invoice template described in this article covers all the fields above in a print-ready A4 layout. The structure below maps to the template columns:

Header section

  • Supplier name, GSTIN, address
  • "TAX INVOICE" label
  • Invoice number and date
  • Declaration text (LUT or IGST route) — bold, prominent
  • LUT ARN (if applicable)

Buyer section

  • Foreign buyer name and full overseas address
  • Country of destination
  • Buyer's local tax/VAT number (optional but recommended)

Line-item table

  • Description, HSN/SAC code, quantity, unit, unit price in foreign currency
  • Taxable value in foreign currency
  • IGST % and IGST amount in INR (0 % / Nil for LUT)

Currency summary block

  • Total in foreign currency (e.g., USD 1,200.00)
  • Exchange rate used and source (RBI/customs)
  • INR equivalent (e.g., ₹1,00,440)

Footer

  • Shipping bill number / airway bill (fill after customs clearance)
  • Bank details for remittance
  • Authorised signatory

What exchange rate should you use and when?

Use the RBI reference rate published by the Reserve Bank of India on the invoice date, or the customs exchange rate notified by CBIC — whichever is applicable to the transaction. Do not use bank transaction rates or interbank mid-market rates for the INR equivalent on the invoice.

The customs exchange rate is typically notified fortnightly by CBIC and is the rate used by customs for shipping bill assessment. For services exports (where there is no shipping bill), the RBI reference rate on the invoice date is the standard choice.

What about SEZ supplies?

Supplies to a Special Economic Zone (SEZ) unit or SEZ developer are also zero-rated under Section 16 of the IGST Act. The same two routes apply: under LUT or with payment of IGST. The key difference is that a shipping bill is not involved — instead, the SEZ developer or unit endorses the invoice. The mandatory declaration line changes to "Supply meant for supply to SEZ unit/developer under LUT" or "Supply meant for supply to SEZ unit/developer on payment of IGST".

Common mistakes on export invoices

  • Raising a regular 18 % invoice to a foreign buyer — exports are zero-rated by law. Using a standard domestic invoice format is a compliance error.
  • Forgetting to file the LUT before the first export — if you export without a valid LUT and have not paid IGST, the supply is not treated as zero-rated and refund becomes complicated.
  • Using the wrong exchange rate date — always use the rate on the invoice date, not the shipment date or payment receipt date.
  • Not keeping the FIRC — when the foreign buyer remits payment, your bank issues a Foreign Inward Remittance Certificate (FIRC). This is a required document for the refund claim under RFD-01. Collect it from your bank promptly.
  • Missing the GSTR-1 Table 6A entry — export invoices must be reported in GSTR-1 under Table 6A (exports with or without IGST payment). Omitting this delays or blocks automated refund matching.

Frequently asked questions

Do I need to file a separate form for LUT every year? Yes. The LUT (filed as Form RFD-11 on the GST portal) must be renewed at the start of each financial year. It is not automatically carried forward. File it before raising your first export invoice of the new financial year.

Can the export invoice be in US dollars or another foreign currency? Yes. The invoice amount can be stated in any foreign currency agreed with the buyer. However, the GST/tax portion must also be expressed in INR using the RBI reference rate or customs exchange rate on the invoice date. Both amounts must appear on the invoice.

Is e-invoicing mandatory for exports? E-invoicing applies to export invoices if your aggregate turnover exceeds ₹5 crore. Above that threshold, generate the invoice on the IRP and use the IRN and QR code on your export invoice document. The ₹10 crore+ rule imposes an additional 30-day upload deadline.

What refund do I get under the LUT route? Under the LUT route, you do not pay IGST but you have accumulated ITC on your inputs. You claim a refund of that accumulated ITC through Form RFD-01 on the GST portal. The refund is processed by your jurisdictional GST officer.

Is a shipping bill mandatory on the invoice itself? The shipping bill number is not required on the invoice at the time of issue — goods are often invoiced before customs clearance. However, the shipping bill (or airway bill for air shipments) is required documentation when filing for the IGST refund. Best practice is to leave a designated field on the invoice and fill it in after clearance.

Do services exports follow the same rules? Yes, service exports are also zero-rated. The same LUT/IGST payment choice applies. There is no shipping bill for services — the equivalent documentation is the FIRC from your bank confirming receipt of foreign currency payment, and a copy of the service agreement or work order.

How Ankeshan helps

How Ankeshan helps: Ankeshan switches between LUT and IGST payment layouts automatically and keeps foreign currency plus INR equivalent blocks in sync — all inside Excel. It's launching soon; join the waitlist.

The free export invoice template in this article is ready to print on A4 — no sign-up required.

Sources

  • Section 16, Integrated Goods and Services Tax Act, 2017 — zero-rating of exports
  • Rule 46, Central Goods and Services Tax Rules, 2017 — mandatory invoice fields
  • CBIC Circular on e-invoicing applicability thresholds (₹5 crore, ₹10 crore)
  • RBI reference rate publication: rbi.org.in
  • CBIC customs exchange rate notifications: cbic.gov.in

Disclaimer: General information, not professional advice. Verify on the official portal for your case. Reviewed by a Chartered Accountant; last updated 27 June 2026.

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