Foreign Inward Remittance Certificate (FIRC) is a key term for anyone in India receiving payments from abroad,&nbsp; be it exporters shipping goods overseas or freelancers offering services to international clients. 

FIRC full form is Foreign Inward Remittance Certificate, and it serves as an official proof that money has been remitted into India from a foreign sourceskydo.com. In simpler terms, a FIRC is a document issued by an Indian bank to verify and record details of an incoming foreign payment – including the sender, recipient, amount, and purpose of the transactiondbs.com. 

This certificate is crucial in the Indian context as it ensures your foreign earnings are transparent, properly documented, and compliant with regulations. In this guide, we’ll explain what FIRC means, why it’s important, how it works under RBI rules, and how Indian businesses or freelancers can obtain and use FIRC effectively.

FIRC stands for Foreign Inward Remittance Certificate, and as the name suggests, it is a certificate provided by banks in India to verify a foreign currency remittance received in the country. The FIRC contains important information such as the amount received, the foreign sender’s and Indian recipient’s details, and the reason for the payment. Essentially, it’s a tangible proof of an inward remittance – functioning as a testimonial that an individual or business in India has received a payment from abroad.&nbsp;

FIRCs have historically been issued by Authorized Dealer (AD) banks whenever an export payment or any foreign inward payment came in. For example, if an exporter in Mumbai sells goods to a buyer in Europe and receives the payment in USD into her Indian bank account, the bank would issue a FIRC confirming that the foreign payment was received. This document legitimizes the transaction and is often required by various authorities for reference. Only banks licensed as Authorised Dealer Category I by the Reserve Bank of India (RBI) can issue FIRCs, since they are the ones permitted to handle foreign exchange transactions in India.&nbsp;

It’s important to note that “FIRC” is sometimes used informally to refer to similar documents like Foreign Inward Remittance Advice (FIRA) or Foreign Inward Remittance Statement (FIRS). We will discuss these terms later, but broadly speaking, all of them serve a similar purpose: proving that a foreign remittance was received. In summary, a FIRC (Foreign Inward Remittance Certificate) is the official proof of foreign money coming into India, making it an indispensable document for cross-border payments.

Whether you are an Indian exporter, a service provider, or a freelancer, obtaining a FIRC (or its equivalent advice) for your foreign earnings is very important. Here are the key reasons why FIRCs matter:

In summary, the FIRC is more than just a piece of paper – it is essential for compliance, for availing financial benefits, and for maintaining clean financial records of foreign income.&nbsp;Especially in India’s tightly regulated foreign exchange environment, this certificate (or its modern digital equivalent) becomes a cornerstone for anyone dealing with international payments.

FIRC in India: RBI Guidelines and the Switch to FIRA

It’s important to understand how FIRCs are handled in India today, because there have been regulatory changes in the past decade. Historically, banks issued a physical FIRC on security paper for every foreign inward remittance received against exports. However, since 2016, the RBI changed the process for most cases. Let’s break down what that means:

In conversations around FIRC, there are a few more terms that get frequently mentioned, one of them being eFIRC. So what exactly is <a href="https://www.skydo.com/blog/efirc-firc-brc-essentials-differences">eFIRC?</a>

Two acronyms often discussed together are FIRC and BRC. They are related but not the same thing. We’ve explained FIRC (proof of receiving foreign payment). BRC stands for Bank Realisation Certificate. Here’s how they differ and how they work together, especially for exporters:

In summary, BRC is the second step in the documentation chain for exports: first get your FIRC/FIRA (proof of payment), then that leads to a BRC (proof that payment matches an export transaction). Both are important for exporters, but they serve different (complementary) purposes.&nbsp; This decison tree will help you decide if and when will you need FIRC/BRC

This is a sample FIRC document. All crucial remittance details have been masked for security purposes. Now let’s break the content of a FIRC down: 

How to Obtain a FIRC (Procedure to Get the Certificate)

Obtaining a FIRC or the equivalent remittance certificate is not an automatic process in many banks – often, you need to request it. Here’s a step-by-step on how Indian businesses or freelancers can get their FIRC/FIRA from the bank:

<a href="https://www.skydo.com/blog/how-to-get-firc-certificate-online">Getting a FIRC</a> might sound like a hassle, but with Skydo, it's a breeze. Our fully automated payment system along with built-in partnerships with banks, ensures effortless compliance with RBI guidelines, without needing any manual intervention.

When you receive an export payment through Skydo, we automatically generate the required FIRC for you at no extra cost. Just log into our user-friendly dashboard, and you'll find your FIRC ready to download, complete with all the details you need. 

Exporting goods and services is considered Zero-Rated Supply, meaning it is subject to 0% GST. However, to claim a GST refund for the input tax credit, exporters must provide the required documents including FIRC. These documents authenticate that the business is claiming a refund because it exported services and couldn't offset its input tax credit as it would in normal domestic business. Without FIRC, claiming a GST refund may not be possible

As we surge in cross-border transactions, ensuring compliance and safeguarding against illicit activities has become a pressing concern. However, at Skydo, we believe your focus should be on advancing your business, not on grappling with compliance challenges.

With Skydo, enjoy seamless international payments, delivered promptly and without any hidden fees. But that's just the beginning! Every time you receive a cross-border payment, an auto-generated FIRC is readily available for you to download, relieving you of compliance burdens so you can devote your energy to what truly matters: driving your business forward.

What is FIRC? Learn the full form, meaning, and how Indian exporters & freelancers can get FIRC or FIRA to claim tax benefits and stay RBI-compliant.

FIRC Full Form, Meaning & Guide for Exporters

Dive into the world of FIRC. Explore the full form, importance, and process of obtaining FIRC for your international transactions

Foreign Inward Remittance Certificate (FIRC): Full form, meaning and RBI guidelines

Prashanth

small_63aec75c493ff751315d72ac_63948a436dc07c0bec0374ea_uA3i3IUVLPHk_-xjAlW9Z7bxKaOLRCylGX1byeHyzyE.png

thumbnail_63aec75c493ff751315d72ac_63948a436dc07c0bec0374ea_uA3i3IUVLPHk_-xjAlW9Z7bxKaOLRCylGX1byeHyzyE.png

Prashanth Kumar

Last Updated: October 2025 (with latest form info and tips)

What is Form W-8BEN and Who Needs It? (For Indian Freelancers)

If you're an Indian freelancer, service provider or contractor working with U.S.-based clients. Form W-8BEN is your lifeline to getting paid without losing <a href="https://www.irs.gov/instructions/iw8ben">30% to U.S. taxes</a>. Form W-8BEN’s official title is “Certificate of Foreign Status of Beneficial Owner for United States Tax Withholding and Reporting (Individuals).” In simple terms, it’s a one-page form where you declare:

By making these certifications, W-8BEN lets you invoke the India-U.S. <a href="https://nadt.gov.in/writereaddata/MenuContentImages/India%20US%20Double%20Taxation%20Avoidance%20Treaty635480255452005394.pdf">Double Taxation Avoidance Agreement (DTAA) </a>to reduce the standard 30% withholding tax to a lower rate (often 0% for service income). Essentially, Form W-8BEN tells your U.S. client or platform that you’re an “international” payee and they should not deduct 30% upfront.

Without this form, the payer is legally required to withhold 30% of your payment and remit it to the IRS&nbsp;– money you would then not get until perhaps a refund claim much later (if at all). Clearly, you want to avoid that scenario by filing W-8BEN.

Any Indian individual earning income from the US: this includes freelancers, consultants, remote employees, content creators, developers, designers, etc., as long as you are getting paid in your personal capacity. Even Indian students or scholars in the US receiving certain stipends might need to fill this. If you are providing a service or receiving any taxable income from a U.S. source as an individual, the W-8BEN is likely required. (Indian businesses have a separate form, W-8BEN-E, discussed later.)

Typically, before the first payment. Many platforms (Upwork, Freelancer, Amazon KDP, stock brokerages) will prompt foreign users to submit a W-8BEN. Clients might ask for it during onboarding. It’s not a form you send proactively to the IRS – you fill it out and give it to the payer so they have it on file. If you change your status (say, move to the U.S. or become a U.S. taxpayer), you’d need to update it; otherwise, just renew it every three years.

&nbsp;How to Fill Form W8BEN India: Step-by-Step Guide

Filling out Form W-8BEN for the first time can seem daunting, but it’s actually straightforward. Below is a line-by-line breakdown tailored for Indian freelancers and independent contractors. Before you begin, always download the latest W-8BEN form from the official IRS website (currently the October 2021 version) – using an outdated form is a common mistake that can lead to rejection or delays

For reference, here’s how the top section of Form W-8BEN looks:

Part I: Identification of Beneficial Owner (India)

In this section, you provide your personal details. Fill it as follows:

This is the heart of the form for reducing withholding. As an Indian, you’ll invoke the <a href="https://www.irs.gov/pub/irs-trty/india.pdf">India-U.S. Tax Treaty here:</a>&nbsp;

In summary, Part II is where you claim “I’m an Indian resident and my income qualifies for treaty exemption, so only 0% should be withheld instead of 30%.”

Finally, read the certification text (it’s basically affirming that everything you provided is true and you are not a U.S. person, etc.). Then:

That’s it! The W-8BEN form is just a single page. Do not attach any documents (no need to attach PAN copy or anything unless specifically asked by the requester). Simply submit this form to your client or platform as instructed. Usually, you’ll upload it through a portal or email a PDF. Remember, do not send it to the IRS directly.

To illustrate the benefit: Priya is a freelance graphic designer in Mumbai earning $50,000 (about ₹40 lakh) from U.S. clients annually. Without a treaty, $15,000 would be withheld as tax (30%). By submitting W-8BEN citing Article 15, Priya’s U.S. clients withhold 0%. She thus saves ₹12 lakh in taxes each year, only paying applicable taxes in India. This shows how crucial the form is for your bottom line!

You can also download <a href="https://www.irs.gov/pub/irs-pdf/fw8ben.pdf">Form W8BEN right here</a>

Form W8BEN-E for Indian Businesses: Complete Guide&nbsp;

If you operate as a business entity (for example, a Private Limited company, LLP, Partnership firm, etc., registered in India) and you are receiving payments from U.S. clients, you’ll use Form W-8BEN-E instead.

The W-8BEN-E (officially “Certificate of Status of Beneficial Owner for United States Tax Withholding and Reporting (Entities)”) serves the same purpose for companies that W-8BEN does for individuals – it certifies your foreign status and tax treaty eligibility – but it’s a longer form (because it collects entity-specific information like organisation type and FATCA status).

Don’t be intimidated by W-8BEN-E’s length (8 pages); most Indian service businesses only need to fill a few relevant parts. Let’s break it down simply:

Part I – Identification of Beneficial Owner (Entity Information):

Part II: Disregarded Entity or Branch Receiving Payment

This part is usually skipped by Indian businesses that are simply paid directly. It’s only relevant if the payment is going to a branch that isn’t the main entity. Most can ignore Part II entirely

&nbsp;Part III: India-US Tax Treaty Claims

This is crucial for reducing withholding under the treaty as per the<a href="https://www.irs.gov/pub/irs-trty/india.pdf"> India-US tax convention</a>, akin to Part II on the individual form.

Parts IV – XXVIII: These are various certifications for different entity types (financial institutions, governments, nonprofits, etc.). The good news is that if you are a standard business entity (exporting services, software, etc.), you often can skip a lot of these parts. The W-8BEN-E form is designed to cover everything from banks to tax-exempt orgs. For a typical private limited/LLP providing services:

(Note: On the form, the certification is usually the last section, sometimes labelled Part XXX or simply the signature block at the end.)

That’s it. While the W-8BEN-E looks long, most Indian businesses only fill 2-3 pages of it; the rest can be left blank or marked not applicable. Always double-check the instructions if in doubt – but the above covers the usual case for Indian entities.

ABC Web Solutions Pvt Ltd in Bangalore earns $100,000 (₹83 lakh) from U.S. clients. Without a W-8BEN-E, each client would withhold $30,000 total (30%). By claiming treaty benefits with W-8BEN-E under Article 7, 0% is withheld in the U.S. ABC only pays tax in India on that income. This saves them roughly ₹25 lakh in taxes annually that would otherwise have been stuck in the U.S.

India-US Tax Treaty Benefits: Things to Note

Both W-8BEN and W-8BEN-E rely on the India–U.S. Double Taxation Avoidance Agreement (DTAA) to eliminate or reduce withholding tax. Here are the treaty provisions most relevant to these forms:

Always quote the treaty article and its paragraph when claiming benefits on the form, as we showed. It’s important to be precise so the withholding agent accepts your claim. If unsure, consult the India-U.S. Tax Convention text&nbsp;or IRS instructions, which list which articles correspond to which types of income.

Form W8BEN and W8BEN -E Download &amp; Submission Process

Always get the forms from an official source. You can download the latest PDF of Form W-8BEN directly from the <a href="https://www.irs.gov/forms-pubs/about-form-w-8-ben">IRS website</a>, and the latest Form W-8BEN-E as well. Using the current version is crucial – outdated forms are a common reason for rejection or delays in processing. The forms come with instructions if you need further guidance.

Once filled and signed, submit the form to whoever requested it (and never to the IRS directly). Here’s how it works in practice:

Keep a copy of your filled form for your records. And if you change your name, address, citizenship, or if a company’s ownership structure changes, you should fill out a fresh W-8 form and send it promptly (within 30 days of the change, per IRS guidelines).

Common Form W8BEN&nbsp; and W8BEN-E Filing Mistakes to Avoid (India)

Filling W-8 forms is straightforward, but certain mistakes can lead to withholding issues or forms being rejected. Avoid these pitfalls:

By avoiding these mistakes, you ensure your form is accepted and you enjoy the full tax benefits allowed.

W8BEN vs W8BEN-E: Key Differences for Indians

Both forms are versions of the W-8 series used to establish foreign (non-U.S.) status and claim treaty benefits. The difference comes down to who is filing:

In short, if you earn in your name, use W-8BEN; if under a company name, use W-8BEN-E. Using the wrong form will result in having to re-submit the correct one, so when in doubt, remember: entities ≠ individuals.

(For completeness: There are other W-8 forms like W-8ECI for income effectively connected with a U.S. trade, W-8IMY for intermediaries, etc. But those are special cases. Most readers here will not need those.)

After Filing: Receiving Payments with Minimal Hassle

Filing your W-8BEN/BEN-E is a critical first step to ensure you’re not over-taxed. Once that’s done, the actual payment process is the next thing to optimise. Many Indian freelancers and businesses face high bank fees, poor conversion rates, and paperwork (like FIRA/eFIRC, purpose codes) when getting paid from the US. This is where Skydo can help streamline things.

Skydo provides Indian freelancers and companies with<a href="https://www.skydo.com/blog/virtual-account-numbers"> virtual U.S. accounts</a> and a platform to receive payments at live forex rates with zero hidden fees. Instead of paying high international wire charges or accepting marked-up conversion rates, you can get near-market exchange rates – meaning you keep more of what you earn. We also automatically handle compliance like purpose codes and FIRA generation for exports.

Pro Tip: Already filed your W-8BEN? Great – the hard part is over. Now, make sure you invoice your U.S. clients in USD and consider using Skydo to avoid losing 2-4% in exchange markups that banks often take. Over a year, those savings add up, just like the tax savings!

Focus on your work, not on chasing payments or worrying about taxes. With the W-8 form formalities done and a solid payment solution in place, you can concentrate on your core business.

How to Fill W-8BEN and W-8BEN-E Forms: A Guide for Indian Freelancers & Businesses

large_How to Fill W-8BEN and W-8BEN-E Forms: A Guide for Indian Freelancers & Businesses

medium_How to Fill W-8BEN and W-8BEN-E Forms: A Guide for Indian Freelancers & Businesses

small_How to Fill W-8BEN and W-8BEN-E Forms: A Guide for Indian Freelancers & Businesses

thumbnail_How to Fill W-8BEN and W-8BEN-E Forms: A Guide for Indian Freelancers & Businesses

When was the last time you couldn’t buy something just because you forgot your wallet at home? Or had to rush to the bank first thing in the morning to send money home? Those days are quickly fading with digital payments in India, which reached<a href="https://pib.gov.in/PressReleasePage.aspx?PRID=2110405"> 18,000</a> crores in transaction volume in January 2025. With so much money moving digitally, tracking each transaction becomes crucial. That’s where UTR numbers come in.

These unique codes are like digital fingerprints of your transactions. It helps you and your bank to trace every rupee you send or receive. In this blog post, we’ll understand the meaning of UTR numbers, their format in NEFT, RTGS, and GPay, and why they matter for anyone using digital payments in India.

The full form of UTR Number is Unique Transaction Reference Number. It is a special code for every digital money transfer in the Indian financial system. Think of it as a tracking number for your transaction, similar to a courier package tracking to know its location during transit. You can find the UTR Number for a specific transaction in your bank statement, banking, and UPI app. More on this later.

The main purpose of a UTR number is to help banks and you keep track of your transactions. If you ever need to check the status of a payment or resolve an issue, a UTR number is what you’ll need.

UTR numbers are used in several payment systems in India, including NEFT, RTGS, and UPI. We will cover the UTR format in each of these systems in a while

Here are the four reasons why UTR numbers are useful to you and your bank

Both you and your bank can check the current payment status of your transactions using UTR to see if the payment is still being processed or has failed. The value of UTR is felt the most when you want to know the status of a specific transaction from a long, unending list. Instead of manually scanning through the list, you can search for the UTR and know the status in seconds

Resolving failed or delayed transactions

Imagine you send money to a friend, but they don’t receive it. By sharing the UTR number with your bank, they can quickly trace what happened and share an update. Whether the money is stuck, delayed, or reversed, you can communicate with your bank and <a href="https://tivazo.com/exception-management/">resolve the issue quickly</a>.&nbsp;

Reference for customer support and disputes

In the event of a payment issue, you can share the UTR number with the bank's customer support team as a reference. It will help them pull up the transaction details and act on them faster.

Essential for accounting and reconciliation

For businesses, keeping track of hundreds or thousands of payments is complicated. With UTR numbers, you can match each payment in the bank statement with invoices or receipts. For example, an accountant can use the UTR number to confirm that a customer’s payment has been received and recorded correctly.

UTR Number Formats Across Payment Systems

UTR numbers follow specific formats depending on the payment system. Let’s break down how UTR numbers are structured in NEFT (National Electronic Fund Transfer), RTGS (Real Time Gross Settlement), and UPI.

Here, “SBIN” is the bank code, resembling the first four characters of the IFSC code.&nbsp; “1” is the server code, “24” is the year 2024, “123” is the 123rd day of the year, and “00012345” is the unique sequence.

Here, “HDFC” is the bank, “R” is RTGS, “9” is the channel code for RTGS, “20240506” is the date (6th May 2024), and “12345678” is the unique sequence.

UPI does not have a fixed format like NEFT or RTGS, but each transaction gets a unique alphanumeric code, such as 312345678901 or AXIS123456789. This ID is generated by the payment app or bank and is used to trace and verify UPI payments.

Here’s how you can find out the UTR Number of a transaction:

Bank Statements and Passbooks: The easiest and quickest way to find the UTR Number is by checking the financial statements. Every transaction in your bank statement or passbook will have a UTR number listed under “Ref No,” “Reference Number,” or “UTR No” alongside the transaction details

Internet and Mobile Banking: Log in to your mobile banking app or the bank's online portal. Go to your transaction history section or account statement, and select the payment you want to check. The UTR number will be shown in the transaction details, usually labelled as “Reference Number” or “Transaction ID”

UPI Apps (GPay, PhonePe, Paytm): Open your payment mobile app, head to the transaction history, and tap on the specific payment. You’ll see the UTR number or Transaction ID in the transaction details

The UTR number in Google Pay (GPay) is displayed as UPI Transaction ID consisting of 12 digits. Imagine you are sending money to a friend and want to check if it went through.

Here are the steps you must follow to find the UTR number in GPay:

How to Track Your Transactions With UTR Number?

Here are two simple ways to track the transaction status using the UTR Number:

If the above option didn’t work for you or you prefer another way, then you can contact the bank’s customer support team. You can call them on the helpline or write them an email mentioning the UTR Number. They will let you know the transaction status of your fund transfer.&nbsp;

UTR numbers are essential to keep your digital transactions traceable and easy to verify. By tracking your UTR numbers, you can quickly resolve payment issues and maintain accurate financial records.

When it comes to international payments, not knowing where your money is can be stressful.

They often take time, and traditional systems rarely give you a clear view of what’s happening in between. That’s why we’ve added a payment tracking feature right into the Skydo dashboard, so you can check the status of your payment anytime, without needing to follow up or chase anyone.

With Skydo, staying in control of your payments is just simpler.

Try it out and see how smooth international payments can really be.

What Is the UTR Number for RTGS and NEFT th

large_What Is the UTR Number for RTGS and NEFT th

medium_What Is the UTR Number for RTGS and NEFT th

small_What Is the UTR Number for RTGS and NEFT th

thumbnail_What Is the UTR Number for RTGS and NEFT th

Exporting goods or services involves a fair amount of paperwork. One document you must get right is the export invoice – the primary bill for an international sale. In simple terms, an export invoice is the legal document and proof of sale that details what you sold, who you sold it to, the price, and the terms of the deal.

It’s similar to a regular sales invoice but is specifically used for cross-border transactions, containing extra information needed for customs and compliance (like your Import-Export Code (IEC), foreign currency details, etc.)

In this guide, we’ll explain what an export invoice is, why it’s so important, when and how to issue one, the different types of export invoices, what information it should include, and best practices for formatting. We’ll also address common questions and provide a sample export invoice format for reference. Let’s dive in!

An export invoice is a detailed bill or document issued by the exporter (seller) to the foreign buyer for an international sale. It itemises the goods or services sold, their quantities and prices, the buyer and seller details, and the agreed payment terms. 

In essence, it serves as a contract and proof of transaction between the exporter and importer. Unlike a domestic GST invoice, an export invoice includes additional information required for global trade – such as the buyer’s overseas address, currency of transaction, relevant trade codes (HS codes), and declarations for customs.

This document is critical for the export process. It is used by customs authorities in both the exporting and importing countries to verify the shipment details, assess the value of goods, and calculate duties or taxes. 

An export invoice is typically based on a commercial invoice format, meaning it contains all the details of a standard sales invoice plus any export-specific requirements.

How is an export invoice different from a regular invoice?&nbsp;

For one, an export invoice is meant only for international transactions. It usually needs extra details like the <a href="https://www.skydo.com/blog/iec-code-apply-online">IEC number,</a> the country of origin of goods, applicable Incoterms, and a declaration if it’s a<a href="https://www.skydo.com/blog/how-does-gst-affect-foreign-payments"> zero-rated (tax-free) export under GST.</a>

 A regular domestic invoice (or “accounting invoice”) just covers local tax requirements, whereas an export invoice covers both the commercial sale info and logistical details (like shipping and regulatory information) needed for cross-border trade

What is the Importance of Export Invoices in India?

An export invoice plays many roles in India as follows:

Legal proof of export transactions: An export invoice is a legal document verifying a sale between an Indian exporter and a foreign buyer. It also serves as a legal proof in the case of any dispute

Customs clearance: As the export invoice includes details like quantity, rate, size, and volume, customs authorities use it to calculate taxes before handling the final clearance. Without an export invoice, it’s challenging for them to calculate tax, thereby stopping your products from export

Facilitation of payments: The payment terms and conditions are mentioned in an export invoice. So when the export invoice is made both parties adhere to those terms for a streamlined payment experience

Claiming export benefits: An Indian exporter can use the export invoice to claim rebates, tax credits, and incentives from the government. For example, The <a href="https://www.indiantradeportal.in/vs.jsp?lang=0&amp;id=0,55,23222">Remission of Duties and Taxes on Exported Products (RoDTEP) scheme</a> provides a rebate to exporters on central, state, and local taxes

Compliance with international trade laws: By sharing an export invoice, an exporter complies with international trade laws like the World Trade Organisation (WTO) agreements. Due to this they enjoy a good reputation and avoid facing legal issues.&nbsp;

Timing is critical when issuing export invoices, and it often depends on the nature of what you’re exporting (goods vs. services). In India, the GST law (Section 31 of CGST Act, 2017) provides clear rules on the time limit for raising invoices for exports

Timing is critical when issuing export invoices, and it often depends on the nature of what you’re exporting (goods vs. services). In India, the GST law (Section 31 of CGST Act, 2017) provides clear rules on the time limit for raising invoices for exports.&nbsp;

These rules ensure that export sales are documented in a timely manner for tax and compliance purposes. Bottom line: always prepare the export invoice before shipping goods, and don’t delay invoicing for services beyond the allowed window. Late or missing invoices can lead to compliance issues or delays in getting paid.

When we talk about export invoices, it’s actually an umbrella term – there are a few different invoice types and related documents you might encounter in the export process. Below are the common types of export invoices and related documents, each serving a unique purpose:

As an exporter, you’ll at minimum be dealing with the commercial invoice (your export invoice proper). Depending on the destination and nature of goods, you might also encounter some of the specialised invoices above (consular/legalised or customs invoices), and you will definitely produce supporting documents like packing lists. Always check the import requirements of your buyer’s country to know if any special invoice format or attestation is needed. For example, a buyer in Egypt might inform you that a consular invoice (and perhaps a certificate of origin) is mandatory for their customs.

No matter the type, every export invoice needs to include certain key information so that it’s legally valid, compliant, and useful for all parties. Here’s a comprehensive list of the contents and fields an export invoice should have:

Ensure all the above elements are present and clearly presented on your export invoice. Missing information can lead to delays or questions from the buyer, bank, or customs. It’s a good idea to design a standard export invoice template that you can reuse, containing all these fields, so you don’t accidentally omit anything important.

Export_Invoice_Format_ed300e9751_b7a2fc57b0.png

Sample Export Invoice format (Commercial Invoice) with key sections. This example shows a typical layout for a commercial export invoice: On the top-left, it has boxes for the exporter’s details and the consignee’s (buyer’s) details (including any intermediate consignee, if applicable). On the top-right, it captures reference information like the date, order number, invoice number, and other shipment identifiers (e.g. customer PO, shipping terms, etc.). In the middle section, there is a table listing the products with columns for quantity, product ID/description, HS code, unit price, and total price for each line. At the bottom, the invoice shows the totals and any additional charges – for example, it may list freight fees, insurance, handling charges, consular fees, etc., culminating in the grand total payable. Finally, there’s space for the authorised signature of the exporter to certify the invoice, usually at the bottom-left, and often a small area for notes or declarations (such as tax or origin declarations) above the signature line.

Your export invoice doesn’t have to follow this exact format, but it should contain all the relevant details discussed in the previous section. Many exporters simply use a Word or Excel template to create invoices. In fact, you can create an export invoice using common tools like Microsoft Excel or Word – just make sure to include all required fields (from exporter/buyer info to product details and declarations). There are also online invoicing software and templates available that cater to export documentation. The key is clarity and completeness: anyone reading the invoice (be it your customer, a customs officer, or your bank) should quickly understand the what, where, and how of the export sale.

💡Tip: Always double-check that the information on your invoice matches other export documents. For instance, details like the goods’ value, quantity, and description should be consistent across the invoice, packing list, shipping bill, and any letter of credit or regulatory filings. Discrepancies can raise red flags during customs clearance. A well-prepared invoice will smooth out many downstream processes in your export workflow.

One common question exporters have is whether to invoice in Indian Rupees (INR) or in a foreign currency (like USD, EUR, etc.). The answer depends on your situation, but here are some considerations:

Also, consider using a service like Skydo (or other fintech platforms), which provides virtual foreign currency accounts – this can help you receive payments in the client’s currency with lower fees, and you can convert to INR at more favourable rates than traditional banks. We’ll touch more on that next.

Handling invoices and payments from international clients can be challenging – from high bank fees (SWIFT charges) to delays in funds reaching your account. Skydo offers a solution to streamline this part of your export process.

 Skydo is a trusted platform that helps Indian exporters receive payments seamlessly from 150+ countries. With Skydo, you can open virtual global accounts (in USD, EUR, etc.) to collect payments, thereby bypassing steep SWIFT wire fees that traditional bank transfers incur. The platform charges a transparent, upfront fee for transactions and has no hidden charges, so you know exactly what cost you incur.

In practical terms, using Skydo means you can invoice your client in their currency, have them pay into your virtual account, and then bring the money into India more cheaply and quickly. The result: you save on forex conversion costs, avoid hassles like tracking international wires, and get paid faster. Plus, Skydo ensures all documentation (like Foreign Inward Remittance Advice (FIRA) or any needed GST records) is in place, keeping you compliant. In short, Skydo helps smooth out the financial side of exporting, so you can focus on growing your global business.

large_export invoice 

medium_export invoice 

small_export invoice 

thumbnail_export invoice 

export invoice 

What is FIRA (and how the terminology evolved)

In banking, FIRA is your AD bank’s written confirmation that foreign currency was received against your export of goods/services. Many branches still use “FIRA/FIRC” interchangeably, which causes confusion—the function for exports is FIRA.

Freelancers &amp; agencies (service exporters)

If you offer services to overseas clients—IT/engineering, design, content, marketing, consulting—every inward foreign payment should be backed by a FIRA. It proves the income is export revenue, not a personal transfer, and supports GST refunds and audits.

If you are working for an international company and getting paid directly from them in foreign currency, you would need FIRA.&nbsp;

For global subscriptions or license sales, FIRA underpins revenue recognition and audit trails (monthly or one-off). Course creators and other digital products fall here, too.

Goods exporters &amp; marketplace sellers

If you export physical products (direct or via marketplaces like Amazon/eBay), FIRA is the first step; then, eBRC is generated to complete the documentation.

Simple rule: If you receive foreign income, you should have a FIRA for each payment.

Takeaway: Service exporters typically rely on FIRA; goods and SOFTEX-covered software exporters need FIRA + eBRC.

Skydo: instant, automated FIRA (and clear pricing)

If you receive payments through Skydo, FIRA is generated automatically for every inward remittance—no branch visits or follow-ups. You also get live mid-market FX with clear, flat fees (no hidden markups), plus India-based support.

Why exporters pick Skydo for compliance + cost control

Want a link-based flow with automatic FIRA and predictable FX? Try InstaLinks for US clients, or use Skydo’s virtual USD/EUR/GBP accounts for broader collections.

large_Importance of FIRA for Freelancers th

medium_Importance of FIRA for Freelancers th

small_Importance of FIRA for Freelancers th

thumbnail_Importance of FIRA for Freelancers th

Importance of FIRA for Freelancers th

If you’re billing overseas clients, from a SaaS subscription to a consulting invoice, you want three things: a. the payment to land on time, b. The INR you receive to be predictable, c. and the paperwork to be airtight.

This guide explains how Cashfree handles international payments, what it costs, what documents you get, and when a specialised exporter platform (like Skydo) might fit better.

Cashfree is a Bengaluru-based payments company. Domestically, it’s an RBI-licensed Payment Aggregator. For cross-border, it offers two ways to collect and settle in INR:

Let's take a moment to understand both these methods.&nbsp;

1) Global Collections Account (virtual accounts + local rails)

Best for: Invoices from overseas clients (freelancers, agencies, IT/consulting, SaaS).

In short: Feels like a “local bank account” for your client; you receive INR in India with per-payment FIRA.

2) International Payment Gateway (cards/APMs)

Best for: Online checkout flows (eCommerce, digital goods, subscriptions, SaaS).

In short: Optimised for conversion at checkout with multi-currency presentation; compliance comes as period summaries.

Cashfree International Payments Charges — what to expect

Use the International Gateway when:

Quick comparison: Global Collection Account vs Payment Gateway

A focused alternative for exporters: Skydo

While Cashfree gives Indian businesses multiple ways to collect payments, it’s still built to serve both domestic and international flows.
If you’re an exporter or freelancer who deals primarily in foreign payments, Skydo might be a better fit because it’s designed only for that.

With Skydo, you get global bank accounts in your business’s name across major currencies like USD, EUR, GBP, CAD, and AUD.
Your clients can pay you through their local payment methods, ACH in the US, SEPA in Europe, Faster Payments in the UK, and the funds reach your Indian account at live forex rates with zero markup.

If your client’s in the US, you can even share an InstaLink; they can pay instantly via card (5%) or ACH debit (2%) at midmarket rates without any markup

Every payment comes with an instant FIRA and eBRC (for Amazon sellers).

In short, Skydo takes care of the entire export payment journey,&nbsp; from collection to compliance, without the guesswork or hidden forex costs. So try Skydo today and let us take on of your payment worries

Cashfree International Payments (2025): Global Account, Gateway, Charges & Alternative