{"id":25419,"date":"2026-01-12T15:53:28","date_gmt":"2026-01-12T10:23:28","guid":{"rendered":"https:\/\/blog.razorpay.in\/blog\/?p=25419"},"modified":"2026-02-09T13:04:39","modified_gmt":"2026-02-09T07:34:39","slug":"lut-vs-bond-gst-exports","status":"publish","type":"post","link":"https:\/\/razorpay.com\/blog\/lut-vs-bond-gst-exports\/","title":{"rendered":"LUT vs Bond Under GST: Which One Should Exporters Choose?"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Exports from India fall under zero-rated supplies under GST. This means the government intends your exports to leave the country without any tax burden, so you can price competitively in global markets and grow without indirect taxes eating into your margins.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Despite this clear policy intent, exporters often face a practical cash-flow challenge. When you export with payment of IGST, the tax amount remains locked until the refund is processed. Since refunds can take time, this upfront tax payment can tie up working capital that you need for operations, marketing, or scaling your export business.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">To address this, GST provides two mechanisms that let you export without paying IGST upfront: the Letter of Undertaking (LUT) and the Export Bond. Both serve the same purpose but they differ in eligibility and compliance requirements. This guide breaks down LUT vs Bond under GST, helping you understand how both work, who can use them, and which option fits your business best.<\/span><\/p>\n<div style=\"border-left: 4px solid #0073aa; background: #f0f8ff; padding: 15px; margin: 20px 0; border-radius: 5px;\">\n<h2 style=\"color: #0073aa; font-size: 18px; margin: 0 0 8px 0; display: inline-block;\">Key Takeaways<\/h2>\n<ul style=\"display: inline-block; margin: 0 0 0 10px; padding-left: 18px; vertical-align: top;\">\n<li>Exports under <a href=\"https:\/\/razorpay.com\/gst-number-search\/\">GST<\/a> are treated as zero-rated supplies, allowing you to avoid paying IGST upfront if you follow the prescribed conditions.<\/li>\n<li>Choosing between an <a href=\"https:\/\/razorpay.com\/blog\/lut-in-gst\/\">LUT<\/a> and a bond depends mainly on your compliance history and eligibility under GST rules.<\/li>\n<li>An LUT is simpler and does not block funds, while a bond involves a bank guarantee that can impact liquidity.<\/li>\n<li>Filing an LUT or bond is not enough; meeting export and payment timelines is mandatory to retain the benefit.<\/li>\n<li>Missing prescribed timelines can turn a tax-free export into a taxable supply with interest liability.<\/li>\n<\/ul>\n<\/div>\n<h2><b>What Is a Letter of Undertaking (LUT)?<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">A <\/span><a href=\"https:\/\/razorpay.com\/blog\/lut-in-gst\/\"><b>Letter of Undertaking<\/b><\/a><span style=\"font-weight: 400;\"> is a simple declaration that lets you export goods or services without paying IGST upfront. The LUT functions as a self-declaration where exporters promise to comply with GST rules while exporting. Most businesses prefer this route because it requires no financial collateral and preserves working capital entirely.<\/span><\/p>\n<h3><b>Who Is Eligible for LUT?<\/b><\/h3>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">All registered GST taxpayers can generally opt for LUT.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Specific exclusion applies: Exporters prosecuted for offences under CGST\/IGST Act where tax evaded exceeds \u20b92.5 crore cannot furnish LUT.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Because this exclusion applies only to serious offences, the LUT remains the default choice for most compliant exporters operating in India.<\/span><\/p>\n<h3><b>Validity and Renewal<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">An LUT is valid for one financial year, running from 1 April to 31 March. It does not carry forward automatically into the next year.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">You must file a fresh LUT at the beginning of every financial year before raising <\/span><b>export<\/b><span style=\"font-weight: 400;\"> invoices. Exporting without a valid LUT for the current year triggers demands for IGST payment, defeating the zero-rated benefit entirely.<\/span><\/p>\n<h2><b>What Is a Bond in GST?<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">While LUT suits most exporters, some must use the alternative mechanism. A <\/span><b>Bond under GST <\/b><span style=\"font-weight: 400;\">represents a formal agreement between the exporter and government, guaranteed by a third party (typically a bank). This instrument serves as a safety net for tax authorities when dealing with exporters whose compliance record raises concerns.<\/span><\/p>\n<h3><b>Who Must File a Bond?<\/b><\/h3>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Exporters with a history of tax evasion where the amount involved exceeds \u20b92.5 crore under GST laws.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">New exporters, in some cases, if the Jurisdictional Commissioner seeks additional assurance due to limited compliance history.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Exporters who voluntarily choose a bond, though this is uncommon because of the cost and liquidity impact.<\/span><\/li>\n<\/ul>\n<h3><b>Bank Guarantee Requirement<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">A key difference between LUT and a bond is the financial backing. A bond is not just a written promise, it requires a bank guarantee.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Here is how it works in practice:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The bond value usually equals the estimated tax liability on exports<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">A bank guarantee, typically around 15% of the bond amount, supports this bond<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The bank blocks funds or limits your credit line to issue this guarantee<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">This directly affects liquidity. Money tied up in a bank guarantee cannot be used for daily operations, marketing, or scaling exports. For this reason, exporters generally prefer LUTs whenever they qualify, and use bonds only when required by law.<\/span><\/p>\n<h2><b>LUT vs Bond: Detailed Comparison<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Choosing between an LUT and a Bond can feel confusing at first. Both routes lead to the same outcome you export under <\/span><b>zero-rated supplies<\/b><span style=\"font-weight: 400;\"> without paying IGST upfront. The difference lies in <\/span><b>how much effort, cost, and risk<\/b><span style=\"font-weight: 400;\"> you take on to get there.<\/span><\/p>\n<h3><b>Eligibility Criteria<\/b><\/h3>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>LUT:<\/b><span style=\"font-weight: 400;\"> Open to almost all registered exporters who have not been prosecuted for serious tax evasion. For compliant businesses, this is the default route.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Bond:<\/b><span style=\"font-weight: 400;\"> Applies mainly to exporters who fail to meet LUT conditions, including those involved in tax evasion cases exceeding \u20b92.5 crore or flagged for specific compliance risks.<\/span><\/li>\n<\/ul>\n<h3><b>Financial Implications<\/b><\/h3>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>LUT:<\/b><span style=\"font-weight: 400;\"> There is <\/span><b>no cost at all<\/b><span style=\"font-weight: 400;\">. You do not block funds, provide guarantees, or incur paperwork expenses.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Bond:<\/b><span style=\"font-weight: 400;\"> The <\/span><b>bond cost<\/b><span style=\"font-weight: 400;\"> can be significant. You usually need a bank guarantee, which ties up capital, along with stamp paper and related charges.<\/span><\/li>\n<\/ul>\n<h3><b>Application Process<\/b><\/h3>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>LUT:<\/b><span style=\"font-weight: 400;\"> Filed completely online through the GST portal. Once submitted, you receive an <\/span><b>Acknowledgement Reference Number (ARN)<\/b><span style=\"font-weight: 400;\"> almost instantly.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Bond:<\/b><span style=\"font-weight: 400;\"> Often involves physical paperwork. You may need to submit the bond, bank guarantee, and supporting documents to your jurisdictional GST office.<\/span><\/li>\n<\/ul>\n<h3><b>Risk and Compliance<\/b><\/h3>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>LUT:<\/b><span style=\"font-weight: 400;\"> If you fail to meet export conditions, you must pay the applicable tax along with interest.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Bond:<\/b><span style=\"font-weight: 400;\"> The risk is higher. The government can <\/span><b>invoke the bank guarantee<\/b><span style=\"font-weight: 400;\">, leading to immediate financial loss.<\/span><\/li>\n<\/ul>\n<h3><b>LUT vs. Bond Differences<\/b><\/h3>\n<table>\n<tbody>\n<tr>\n<td><b>Feature<\/b><\/td>\n<td><b>Letter of Undertaking<\/b><\/td>\n<td><b>Bond<\/b><\/td>\n<\/tr>\n<tr>\n<td><b>Eligibility<\/b><\/td>\n<td><span style=\"font-weight: 400;\">Available to most GST-registered exporters (except those prosecuted for evasion &gt;\u20b92.5 crore)<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Limited to exporters not eligible for LUT<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Security \/ Collateral<\/b><\/td>\n<td><span style=\"font-weight: 400;\">Not required<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Bank guarantee usually required<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Validity<\/b><\/td>\n<td><span style=\"font-weight: 400;\">One financial year<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Valid for the bond period approved<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Filing Mode<\/b><\/td>\n<td><span style=\"font-weight: 400;\">Fully online via GST portal<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Mostly manual, with physical submission<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Cost<\/b><\/td>\n<td><span style=\"font-weight: 400;\">Nil<\/span><\/td>\n<td><span style=\"font-weight: 400;\">High (bank guarantee + stamp duty)<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2><b>How to Apply for LUT and Bond?<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Understanding application procedures helps exporters execute their chosen option correctly. Both mechanisms use Form <\/span><b>GST RFD-11<\/b><span style=\"font-weight: 400;\">, but submission methods and requirements vary significantly. Let&#8217;s examine the specific steps for each pathway.<\/span><\/p>\n<h3><b>Steps to File LUT Online<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Filing an LUT online takes only a few minutes if your GST registration is active.<\/span><\/p>\n<ol>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Log into GST Portal and navigate to <\/span><b>Services \u2192 User Services \u2192 Furnish Letter of Undertaking.<\/b><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Select the correct Financial Year from the dropdown list.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">If you filed an LUT earlier, upload the previous LUT details. Otherwise, tick the self-declaration checkboxes confirming compliance.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Enter details of two independent witnesses including names and complete addresses.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">In the Name of Primary \/ Other Authorised Signatory drop-down, select the authorised signatory linked to your GST registration.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Sign using <a href=\"https:\/\/razorpay.com\/rize\/blogs\/digital-signature-certificate-dsc\">Digital Signature Certificate<\/a> (DSC) or Electronic Verification Code (EVC).<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The system generates ARN immediately upon submission.<\/span><\/li>\n<\/ol>\n<div style=\"border-left: 4px solid #0073aa; background: #f0f8ff; padding: 15px; margin: 20px 0; border-radius: 5px;\">\n<p style=\"color: #0073aa; font-size: 18px; margin: 0;\"><strong><span style=\"color: #0073aa;\"><span style=\"font-size: 18px;\">Pro Tip: <\/span><\/span><\/strong><span style=\"color: rgba(0, 0, 0, 0.74); font-size: 19px; font-weight: 400;\">File your LUT renewal in late March before the financial year ends to avoid any gap in coverage that could force IGST payments on April exports.<\/span><span style=\"font-size: 19px; background-color: #ffffff; color: rgba(0, 0, 0, 0.74);\">\u00a0<\/span><\/p>\n<\/div>\n<h3><b>Procedure for Submitting a Bond<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">If you are not eligible for LUT, you must <\/span><b>submit a bond under GST<\/b><span style=\"font-weight: 400;\">, which involves additional paperwork and coordination with your bank.<\/span><\/p>\n<ol>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Prepare the export bond on non-judicial stamp paper of the required value.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Arrange a bank guarantee from your bank, usually for a prescribed percentage of the bond amount.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Fill Form GST RFD-11 and prepare a short covering letter.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Submit the complete physical setbond, bank guarantee, RFD-11, and covering letterto your Jurisdictional Deputy or Assistant Commissioner.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">After verification, the officer issues an acceptance letter, allowing you to export without IGST payment.<\/span><\/li>\n<\/ol>\n<h2><b>Consequences of Non-Compliance<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Filing an LUT or a bond only gives you permission to export without paying IGST upfront. The real responsibility starts after that. You must meet the conditions attached to these facilities within the prescribed <\/span><b>timelines<\/b><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If you miss these conditions, GST treats the export as if the exemption never existed. What was meant to be a tax-free export can quickly turn into a taxable supply, along with interest and possible withdrawal of future benefits.<\/span><\/p>\n<h3><b>Failure to Export Goods Within 3 Months<\/b><\/h3>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Rule:<\/b><span style=\"font-weight: 400;\"> Exported goods must leave India within three months<\/span> <span style=\"font-weight: 400;\">from the invoice date.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Consequence:<\/b><span style=\"font-weight: 400;\"> If this timeline is missed, the exporter must pay IGST on the goods along with 18% interest, calculated from the invoice date.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Recovery:<\/b><span style=\"font-weight: 400;\"> The tax authorities may withdraw the LUT facility or encash the bond, including the associated bank guarantee.<\/span><\/li>\n<\/ul>\n<h3><b>Failure to Realise Payment for Services<\/b><\/h3>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Rule:<\/b><span style=\"font-weight: 400;\"> For export of services, payment must be received in convertible foreign exchange within one year<\/span> <span style=\"font-weight: 400;\">from the invoice date.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Consequence:<\/b><span style=\"font-weight: 400;\"> If payment is not realised within this period, the supply becomes taxable retrospectively, and <\/span><b>GST with interest<\/b><span style=\"font-weight: 400;\"> becomes payable.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Note:<\/b><span style=\"font-weight: 400;\"> While RBI guidelines may allow extensions for realisation, GST compliance remains strict unless such extensions are specifically recognised.<\/span><\/li>\n<\/ul>\n<h2><b>Streamline Your International Payments with Razorpay<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Once you have clarity on LUT or bond compliance, the next step is making sure your international payments come in smoothly and on time. Razorpay offers a single, integrated setup that helps exporters receive funds from overseas clients without unnecessary complexity or cost surprises.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">You can accept international payments from customers across 180+ countries using global cards, Apple Pay, Google Wallet, and bank transfers, all through one platform. This makes it easier to serve overseas clients without setting up separate arrangements for each market.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Razorpay also enables local bank transfers for international clients, allowing them to pay you like a local while you receive the funds in India, converted into INR.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The platform supports collections in 130+ foreign currencies, which helps you invoice clients in a way that feels familiar to them and reduces payment friction.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">With transparent pricing and no hidden forex markups on international bank transfers, you get better visibility on what you will actually receive from each transaction.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">All international payments are tracked through a single dashboard, so you can monitor receipts, settlements, and statuses without juggling multiple tools.<\/span><\/li>\n<\/ul>\n<div style=\"background: #f5faff; border-radius: 14px; padding: 30px; text-align: center; margin: 42px 0; box-shadow: 0 8px 20px rgba(26,115,232,0.08);\">\n<h2 style=\"color: #1a73e8; font-size: 24px; font-weight: bold; margin-bottom: 12px;\"><strong>simplify how you receive international payments<\/strong><\/h2>\n<p style=\"color: #444; font-size: 16px; max-width: 720px; margin: 0 auto 18px; line-height: 1.6;\"><strong>Serve overseas clients across markets with multiple payment options, clear fees, and<br \/>\nunified tracking\u2014so international receipts arrive smoothly and on time.<br \/>\n<\/strong><\/p>\n<p><a style=\"display: inline-block; background: #1a73e8; color: #ffffff; padding: 14px 26px; font-size: 16px; font-weight: bold; border-radius: 10px; text-decoration: none;\" href=\"https:\/\/razorpay.com\/accept-international-payments\/bank-transfers\/?utm_source=blog&amp;amp;utm_medium=referral&amp;amp;utm_campaign=internationalpayments%22%3E%3Cem%3E%3Cstrong%3ERazorpay%E2%80%99s&quot;\">Explore Razorpay\u2019s Global Payment Solutions<\/a><span style=\"font-size: 19px; background-color: #ffffff;\">\u00a0<\/span><\/p>\n<\/div>\n<h2><b>Conclusion<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">For most <\/span><b>compliant<\/b><span style=\"font-weight: 400;\"> exporters, the <\/span><b>LUT under GST<\/b><span style=\"font-weight: 400;\"> is the clear choice. It costs nothing, takes only minutes to file online, and keeps your cash flow free from blocked IGST payments. The Bond route exists mainly as a backup for businesses that do not meet LUT eligibility and are willing to manage added paperwork and bank guarantees.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Whichever option you use, sticking to <\/span><b>export<\/b><span style=\"font-weight: 400;\"> timelines three months for goods and one year for services is critical to retain zero-rated benefits and avoid tax demands. Before the start of every financial year, review your eligibility and file your LUT early so your exports continue smoothly from day one.<\/span><\/p>\n<h2><b>FAQs<\/b><\/h2>\n<h3><b>1. What is the main difference between LUT and Bond?<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">An LUT is a compliance-based promise with no security or cost, while a Bond is a legal undertaking backed by a bank guarantee, used when an exporter does not qualify for LUT.<\/span><\/p>\n<h3><b>2. Who is eligible to file an LUT under GST?<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Any GST-registered exporter of goods or services can file an LUT, as long as they have not been prosecuted for tax evasion involving an amount exceeding \u20b92.5 crore.<\/span><\/p>\n<h3><b>3. Is a bank guarantee mandatory for filing a Bond?<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Yes. Filing a Bond generally requires a bank guarantee, typically around 15% of the bond value, to safeguard the tax authorities\u2019 interests.<\/span><\/p>\n<h3><b>4. What is the validity period of an LUT?<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">An LUT is valid for one financial year and must be filed again before the next year begins.<\/span><\/p>\n<h3><b>5. What happens if exports are not completed within 3 months under LUT?<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">If goods are not exported within three months from the invoice date, you must pay the applicable IGST along with interest for that supply.<\/span><br \/>\n<script type=\"application\/ld+json\">\n{\n  \"@context\": \"https:\/\/schema.org\",\n  \"@type\": \"FAQPage\",\n  \"mainEntity\": [\n    {\n      \"@type\": \"Question\",\n      \"name\": \"What is the main difference between LUT and Bond?\",\n      \"acceptedAnswer\": {\n        \"@type\": \"Answer\",\n        \"text\": \"An LUT is a compliance-based promise with no security or cost, while a Bond is a legal undertaking backed by a bank guarantee, used when an exporter does not qualify for LUT.\"\n      }\n    },\n    {\n      \"@type\": \"Question\",\n      \"name\": \"Who is eligible to file an LUT under GST?\",\n      \"acceptedAnswer\": {\n        \"@type\": \"Answer\",\n        \"text\": \"Any GST-registered exporter of goods or services can file an LUT, as long as they have not been prosecuted for tax evasion involving an amount exceeding \u20b92.5 crore.\"\n      }\n    },\n    {\n      \"@type\": \"Question\",\n      \"name\": \"Is a bank guarantee mandatory for filing a Bond?\",\n      \"acceptedAnswer\": {\n        \"@type\": \"Answer\",\n        \"text\": \"Yes. 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This means the government intends your exports to leave the country without any tax burden, so you can price competitively in global markets and grow without indirect taxes eating into your margins. Despite this clear policy intent, exporters often face a practical cash-flow challenge. When you<\/p>\n","protected":false},"author":86,"featured_media":25896,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[1067],"tags":[],"class_list":{"0":"post-25419","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-cross-border"},"_links":{"self":[{"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/posts\/25419","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/users\/86"}],"replies":[{"embeddable":true,"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/comments?post=25419"}],"version-history":[{"count":3,"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/posts\/25419\/revisions"}],"predecessor-version":[{"id":25422,"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/posts\/25419\/revisions\/25422"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/media\/25896"}],"wp:attachment":[{"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/media?parent=25419"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/categories?post=25419"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/tags?post=25419"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}