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of <h1>Exporters must furnish bond or Letter of Undertaking before zero-rated exports, liable for tax and interest if exports/payments fail</h1> Registered persons exporting goods or services without payment of integrated tax must furnish a bond or Letter of Undertaking in the prescribed form before export, undertaking to pay tax and interest if goods are not exported or payment not received within specified periods (shorter period after invoice for goods; longer period tied to foreign exchange rules for services). Export invoice details filed on the returns portal are electronically transmitted to Customs, which must confirm export. Failure to export or pay leads to withdrawal and recovery of the bond/LOU privileges, which are restored on payment. Conditions for LOU in lieu of bond may be notified; same rules apply to zero-rated SEZ supplies.
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