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

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Prashanth Kumar

“Is a commercial invoice and a bill the same?” This is a common question.&nbsp;

The answer is: a commercial invoice is more than just a bill. It’s a key document that your bank, tax authorities, and even regulators check. It serves as proof of export, helps you get paid, and ensures you remain legally compliant. It applies to all exporters selling physical goods, SaaS, or services, such as consulting.

In this guide, you’ll learn exactly who needs a commercial invoice, when to create one, what details to include, and how to structure it. To make things even easier, you’ll also find templates and a sample invoice you can use right away.

A commercial invoice is a legal document issued by an exporter to the foreign buyer. It contains transaction details, such as who sold what, for how much, and how the payment is expected.&nbsp;

For example, you provided IT services to a firm based in Germany. You issue a commercial invoice that mentions the company name, its address, the total fee, and how you expect to receive payment (such as via bank transfer).

Due to its comprehensiveness, it acts as a:

Who Needs a Commercial Invoice for Export?&nbsp;

If you’re a seller, you need a commercial invoice. But in this blog, we will only cover how a commercial invoice applies to various types of export business. Read on to find out the types and the category of export you belong to&nbsp;

Freelancers, agencies, and consultants exporting digital services, like marketing, design, SaaS, or IT, fall into this category. A commercial invoice is applicable for all of them.&nbsp; For example, a Bangalore-based design agency working for an Australian e-commerce website must issue a commercial invoice for the project fee. The same applies to an independent freelancer.

Product exporters selling goods internationally

If you’re selling physical products via Amazon Global, Shopify, or other B2B channels, you’re an exporter. Each shipment you send out must accompany a commercial invoice. For example, an Indian handicraft exporter sells hand-woven rugs to customers in the US through Amazon Global. For every order he receives, he creates a commercial invoice containing the buyer's details and product description, like size, quantity, and price. This also helps him get the customs clearance without any delays.

Anyone receiving foreign currency for contract work

Let’s say you provide services only under a contract or agreement to foreign clients. This means you’re earning foreign exchange, and therefore, you need a commercial invoice. For example, an Indian IT company enters into a six-month software maintenance contract with a UK agency. The IT company generates a commercial invoice each month mentioning the nature of services provided, purpose code, amount, and bank details.&nbsp;

Why is a commercial invoice needed for export?

You might have observed that even when no physical shipment is involved, exporters still need a commercial invoice. Here are the reasons behind it:&nbsp;

When Is a Commercial Invoice Required in the Export Journey?

The best time to send out a commercial invoice is right after delivering the service or shipping the product. Here are the reasons why we think this is the best time:

Raising an invoice is an indicator that your job is done, and the client can initiate the payment. A commercial invoice documents the job details and the total amount the client must pay to fulfil the deal&nbsp;

To submit to your bank when an inward remittance is received

When your payment arrives from overseas, banks require the commercial invoice as proof of the transaction. This helps them process the remittance and comply with RBI regulations&nbsp;

💡Special note if you’re a freelancer: There could be cases where your client would not specifically ask for a commercial invoice. Here’s a common scenario: you could be working with a startup or a small agency for over a year now. You have a great camaraderie with your client, and they trust you with your work. When it’s time to pay, they only ask for your bank details; No commercial invoice required. However, when the payment arrives in your Indian account, say $1200, your bank might ask for the invoice for compliance purposes. Therefore, even when the client doesn’t ask for it, generate a commercial invoice and save a copy

What Should Be Included in a Commercial Invoice for Export?&nbsp;

Here’s a clear, easy-to-understand checklist of the key fields you should include in your commercial invoice, along with concise descriptions for each:

✅&nbsp;Tips for exporters: While there are multiple purposes linked to the type of remittance you receive, here are some of the most common ones applicable to exporters

RBI Category:&nbsp;Computer &amp; Information Services

RBI Description:&nbsp;Software implementation/consultancy (other than those covered in SOFTEX form)

When to use:&nbsp;This code signifies a foreign payment in exchange for software consultancy or implementation service, provided to a foreign client. It's important to note that P0802 applies specifically to software consultancy or implementation services that are not reported under the&nbsp;<a href="https://vjmglobal.com/fema/fema-fema/introduction-to-software-export-declaration-softex-form/" rel="nofollow" target="_blank">SOFTEX form.</a>&nbsp;If your services fall under SOFTEX, a different code might be used.

RBI category:&nbsp;Computer &amp; Information Services

RBI Description:&nbsp;Hardware consultancy

When to Use:&nbsp;This code is used when exporters receive foreign payment for providing hardware consultancy or implementation services abroad.

RBI Description:&nbsp;Off-site Software Exports

When to Use:&nbsp;This code signifies that an Indian company is receiving payment for software development or IT services provided to a foreign client, but the work itself is done in India.

RBI Description:&nbsp;Advance receipts against export contracts (export of goods only)

When to Use:&nbsp;This is used when businesses receive advance payment against the contract of the goods to be exported. In other words, here the company receives payment for goods before they are shipped.

Sample Commercial Invoice for Export (Service)

Based on what we have covered so far, here’s a sample format of a commercial invoice for service exporters: 

Commercial Invoice Template for Export: How to Structure Yours&nbsp;

You can use software to create commercial invoices for your export business. But if you’re doing it on your own, without using software, here’s what you must know:&nbsp;

Common Mistakes to Avoid in Export Invoices

Most exporters make mistakes while creating an export invoice for the first time. Often, these mistakes are small errors, but they can cause delays and frustrations later on. Here’s a quick look at a few of these common mistakes and why you must avoid them:

Exporting is already challenging, your payments and compliance shouldn’t make it harder. With Skydo, you don’t just create invoices, you create confidence. Every payment is tracked in real time, every compliance document is auto-generated, and every export counts without delays or hidden costs. Whether you’re a freelancer, a fast-growing agency, or an Amazon Global seller, Skydo gives you a single platform to get paid faster, stay fully compliant, and scale globally with ease.

👉 Don’t let paperwork slow your growth. <a href="https://www.skydo.com/">Sign up for Skydo</a> today and make every export effortless.

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Commercial invoice

EOU stands for Export Oriented Unit - it's a special business status that allows you to import raw materials and machinery without paying customs duties. The trade-off here is that you commit to exporting most of what you produce.

When freelancers and small businesses search for "EOU full form in export" or "EOU full form in customs," they're usually trying to understand this specific scheme that helps Indian companies compete globally by reducing their import costs.

Export Oriented Units are those units that undertake to export their entire goods and services under India's Foreign Trade Policy. The scheme started in 1981 to promote exports and increase net foreign exchange earnings.

The beauty of the EOU scheme is its simplicity. If you're genuinely focused on exports, the government makes it easier to access inputs without the usual customs headaches that can eat into your margins.

Who Should Care About EOU? (And Why It Matters)

The scheme is most effective for manufacturers and large-scale exporters that regularly import raw materials, components, or machinery.&nbsp;

For example, textile manufacturers bringing in fabric, electronics companies importing components, or jewellery makers sourcing precious metals. These businesses see immediate impact because they're already dealing with hefty customs bills every month.

B2B hardware exporters, in particular, benefit since they often require specialised equipment and materials that are subject to high import duties. When you're importing $50,000 worth of materials monthly and paying 15-25% in various responsibilities, the savings add up fast.

Here's where it gets tricky for most freelancers and service providers. If you're doing SaaS development, content writing, or digital marketing services, the EOU scheme won't directly help since your main "inputs" are skills and software subscriptions.

But understanding EOU still matters if you're service-focused. Many freelancers eventually scale into product businesses - that graphic designer might start selling merchandise internationally, or the developer might launch hardware. Knowing about EOU gives you a head start for these transitions.

The EOU scheme operates on a straightforward deal with the government: you commit to exporting 100% of your production (with some flexibility), and in return, you are allowed to import your inputs without paying customs duties.

Goods remain duty-free as long as they're exported. If you decide to sell some of your production in the domestic market (which is allowed up to 50% of your export value), you'll need to pay the duties that were initially exempted.&nbsp;

This ensures the system remains honest and that the benefits genuinely support export activities.

One important limitation that many people overlook is that EOUs aren't restricted to specific zones or locations, unlike Special Economic Zones (SEZs).&nbsp;

You can set up an EOU anywhere in India as long as you meet the scheme's criteria. This flexibility makes it accessible to businesses in smaller cities or rural areas that want to tap into export markets without relocating to designated industrial zones.

The customs duty exemptions are the headline benefit that draws most businesses to the EOU scheme.&nbsp;

EOU vs SEZ vs STPI: What’s the Difference?

Understanding these three export schemes can save you from applying to the wrong one and wasting months in the process. Each targets different types of businesses and comes with its own set of rules.

EOUs (Export-Oriented Units) are designed for businesses focused on product exports, such as manufacturing, textiles, or hardware. You can set up an EOU anywhere in India, offering location flexibility that other schemes don't provide. The GST refund process is straightforward, and you get duty-free imports as long as you export your production.

SEZs (Special Economic Zones) cast a wider net, supporting all types of exports from manufacturing to services. However, you're restricted to specific designated zones, which limits where you can operate. The GST situation becomes more complex in SEZs - while you may not be required to pay GST on specific transactions, the refund process can be more complicated, depending on your particular setup.

STPI (Software Technology Parks of India) focuses specifically on IT and software exports. There are no location restrictions, so you can operate from anywhere in India. The GST refund process works well for tech services, and the compliance requirements are generally more suited to software development workflows.

Can Freelancers or Service Exporters Use the EOU Scheme?

No - the EOU scheme is specifically designed for goods exports, not services. If you're a freelancer doing web development, content writing, or digital marketing for international clients, EOU won't help you.

The scheme requires you to manufacture or produce physical products that can be exported. Even if you're creating software products, the EOU framework isn't built for digital deliverables. You need tangible goods that can be physically tracked through customs.

If you're exporting software or IT services, the STPI is the relevant scheme you should consider instead. STPI (Software Technology Parks of India) is specifically designed for tech services and software exports, with compliance processes that are tailored to digital work.

For most service exporters, there are better and simpler options that don't require the complexity of special schemes:

<a href="https://www.skydo.com/blog/all-you-need-to-know-about-lut-for-tech-service-export">LUT</a> under GST (Letter of Undertaking) lets you export services without paying GST upfront, then claim refunds later. This is probably the most straightforward option for freelancers who are already registered for GST.

<a href="https://www.skydo.com/blog/all-you-need-to-know-about-firc-a-complete-guide">The Foreign Inward Remittance Certificate (FIRC)</a> helps you properly document your export earnings for tax purposes and RBI compliance. Every service exporter should understand this regardless of which scheme they use.

Platforms like Skydo handle the compliance side automatically, making it easier to receive international payments without worrying about export documentation or RBI requirements.

The bottom line: if you're doing services, don't waste time applying for EOU. Focus on GST LUT and proper documentation instead.

How to Register as an EOU (Only if you're eligible)

The EOU registration process is more straightforward than most people expect, but it requires getting each step right to avoid delays and rejections.

Submit your application to the <a href="https://handicrafts.nic.in/">Development Commissioner</a> with detailed information about your proposed operations, export plans, and investment details. You need to demonstrate genuine export potential and explain how you'll meet the scheme's requirements. The Development Commissioner's office will review your application and either approve or reject it based on your sector and feasibility.

Once approved, you'll receive a Letter of Permission (LoP) that gives you official authorization to set up your EOU. This letter is valid for two years, during which you must establish your operations and install the necessary equipment. If you need more time, you can request a one-year extension; however, please note that multiple extensions are not guaranteed.

Install bonding and customs procedures at your premises before you can start importing duty-free goods. This involves customs officials inspecting your facility and setting up tracking systems to monitor what comes in and goes out. The bonding process ensures that duty-free imports are only used for export production, not diverted to the domestic market.

Throughout your operations, you must maintain Net Foreign Exchange (NFE) obligation - essentially proving that your exports generate more foreign currency than you spend on imports. This is calculated over a five-year block period, providing you with some flexibility during tough years, as long as you maintain a positive NFE cumulatively.

If you're in services, EOUs aren't directly applicable to your current setup. However, if you plan to scale into manufacturing exports or hybrid product-service models, this knowledge becomes valuable for future planning.

The key is staying aware of export schemes that match your business model. For service exporters, focus on GST LUT and proper documentation rather than pursuing manufacturing-focused benefits.

Whether you're using traditional export schemes or modern solutions like Skydo for seamless international payments and compliance, understanding the landscape helps you make better decisions as your business evolves.&nbsp;

Keep EOUs in your back pocket for when you're ready to move beyond pure services.

<a href="https://www.skydo.com/">Explore Skydo</a>!

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India's software-as-a-service (SaaS) market is projected to reach <a href="https://www.bvp.com/atlas/rise-of-saas-in-india-2023">$50 billion </a>in annual recurring revenue by 2030, nearly quadrupling its current size. While "India-first" companies like Perfios and M2P serve the domestic market, "global-first" companies like Zoho, Freshworks, and Icertis are winning clients worldwide.

If you're in the second category, building for international markets, two compliance areas directly impact your bottom line: ensuring compliant payment through proper FIRA documentation, and recovering funds through GST refunds on your business expenses.

This guide breaks down both processes for SaaS exporters in 2025.

What is FIRA, and Why Do SaaS Exporters Need It?

<a href="https://www.skydo.com/blog/automated-firc-simplifying-international-payments-compliance">FIRA stands for Foreign Inward Remittance Advice</a> (sometimes called by its old name, FIRC - Foreign Inward Remittance Certificate). Your bank or payment provider issues this document whenever foreign currency gets credited to your Indian account.

It is an official receipt that proves foreign money actually reached you. When your US client pays $5,000 for your annual software license, that payment doesn't just appear in your account - it goes through foreign exchange conversion, and your bank creates a paper trail.

Why FIRA matters for your business:

Obtaining FIRA documentation correctly is essential for meeting three key compliance requirements.&nbsp;

In most cases, SaaS founders discover this requirement only when they try to claim their first GST refund and realize they're missing essential documentation. The key is to set up proper collection processes from day one, rather than scrambling to gather historical records later.

How to Get FIRA for Your SaaS Business?&nbsp;

Your FIRA process depends on how you receive international payments, and each method has different requirements and timelines.

Traditional SWIFT bank transfers through banks like ICICI or HDFC will generate FIRA automatically, but you need to request copies from your bank. Most banks charge a small fee (typically ₹100-500 per document) for FIRA documents and may take 2-3 business days to provide them. While some banks may email these automatically, most require you to visit a branch or request them through internet banking.

Payment platforms like PayPal typically provide monthly digital FIRA statements that consolidate all your international receipts for that period. You'll need to download these from your <a href="https://www.skydo.com/blog/paypal-transaction-fees-india">PayPal business account</a> and ensure they include all required details for GST compliance.

Specialised platforms like Skydo automatically generate FIRA for every individual transaction as soon as the payment is processed. This real-time approach eliminates the waiting period and manual requests that come with traditional banking.

Regardless of your payment method, every FIRA document must include:&nbsp;

Missing any of these details can delay the processing of your GST refund, so always verify the completeness of your claims before filing.

GST Refunds for SaaS Exporters: What You Need to Know

The Indian GST system treats SaaS exports as zero-rated supplies under Section 16 of the IGST Act, which means you charge 0% GST to your international clients. However, you're still required to pay GST on business inputs, such as office rent, software subscriptions, and professional services.

This creates a cash flow situation where you're paying GST on your costs but not collecting it from your revenue. The government recognizes this imbalance and provides two options for handling GST on exports.

Option 1: Pay GST first, then claim a refund&nbsp;

You can pay the full 18% GST on your export invoices and then file for a complete refund later. While this guarantees you'll get your money back, it ties up significant working capital that most growing SaaS companies can't afford to lock away.

Option 2: Letter of Undertaking plus input tax credit refund&nbsp;

Most SaaS exporters choose this route because it's more cash-flow friendly. You file a<a href="https://www.skydo.com/blog/all-you-need-to-know-about-lut-for-tech-service-export"> Letter of Undertaking (LUT)</a> that allows you to export without paying GST upfront. Then you claim refunds only for the input tax credit (ITC) you've paid on business expenses.

Here's how it works practically: if you paid ₹50,000 in GST this quarter on your office rent, software tools, and legal fees, and 80% of your revenue came from international clients, you can claim a refund of ₹40,000 through the ITC route. This approach keeps your cash flowing while ensuring compliance.

Step-by-Step — How to Claim GST Refund on Export of Services

Even with <a href="https://www.skydo.com/blog/all-you-need-to-know-about-lut-for-tech-service-export">LUT</a>, SaaS exporters can claim refunds for unutilized Input Tax Credit. The process depends on which route you've chosen for handling GST on your exports.

If you export under LUT (without paying GST)

This is the preferred route for most SaaS companies because it preserves cash flow. You don't charge 18% GST on your international sales invoices, but you're still paying GST on domestic purchases, such as software subscriptions, office rent, and professional services. That input tax credit becomes your opportunity for a refund.

If you didn't file LUT (export with payment of GST)

This route involves charging 18% GST on your export invoices, paying that GST to the government, then claiming a refund through RFD-01 (GST refund application form). While you can recover the full GST amount, this approach ties up working capital that most growing SaaS businesses prefer to keep liquid.

Most SaaS exporters avoid this route specifically because it creates unnecessary cash flow constraints during periods of growth.

Common Mistakes SaaS Exporters Make (And How to Avoid Them)

Most GST refund delays occur due to preventable documentation and process errors. Here are the mistakes that consistently trip up SaaS exporters, along with tips on how to avoid them.

Not collecting valid FIRA documents&nbsp;

Many founders assume their bank statements or payment confirmations are enough, but GST authorities specifically require FIRA or FIRC documents. Without proper FIRA, your entire refund application becomes ineligible, regardless of how perfect your other documentation is.

Set up a system to collect FIRA within 10 days of receiving each international payment. Some banks provide these automatically, while others require manual requests. Alternatively, services like Skydo offer free and instant FIRA with every transaction, eliminating the hassle of collection. Don't wait months to gather these documents - banks have retention policies, and older records become harder to obtain.

Your FIRA must show the right purpose code for software exports, typically P0802. If your bank assigns a generic code or marks it incorrectly, you may experience verification delays during refund processing. Inform your bank about the nature of your business upfront and verify the purpose code on each FIRA before accepting it.

LUT expires every financial year and must be renewed. Exporting without a valid LUT means you should have charged GST on those invoices. If you discover this mid-year, you'll need to either pay GST retrospectively or face compliance issues during refund applications.

Your international invoices need specific GST formatting, including the place of supply marked as outside India, GST rate clearly shown as 0%, LUT reference numbers, and a proper description of software services. Generic invoices without these details get rejected during refund verification.

Filing delays and mismatched returns&nbsp;

Late GSTR-1 filing or discrepancies between your export invoices and return data create processing delays. GST authorities cross-verify your refund claims against filed returns, so ensure your export turnover figures match exactly across all documents.

Skydo Tip: Simplify FIRA + Export Payments in One Place

Managing FIRA collection and international payments doesn't have to be a challenge. If you're tired of chasing banks for FIRA documents or losing money to hidden FX markups, specialized platforms can streamline your entire export payment process.

For SaaS exporters dealing with regular international payments, this approach eliminates the documentation delays that often slow down GST refund applications. When your FIRA arrives instantly with every payment, you can file refund claims promptly rather than waiting weeks to gather missing documents.

The time savings alone - not having to chase banks for FIRA or worry about incorrect purpose codes - often justify the switch for growing SaaS businesses focused on scaling rather than managing payment paperwork.

Try Skydo if your SaaS clients are abroad and you want to save time and money on every payment while maintaining seamless GST compliance.

<a href="https://www.skydo.com/">Explore Skydo!</a>

For Indian SaaS exporters, managing foreign payments isn't just about getting paid—it's about staying compliant and reclaiming what you deserve.

FIRA documentation ensures RBI and GST compliance while protecting your refund eligibility. GST refunds bring back the input tax credits you've paid on business expenses, improving your cash flow significantly.

The key is to set up proper processes from day one, rather than scrambling to fix compliance gaps later. Whether you handle payments through traditional banks or specialized platforms like Skydo, focus on complete documentation and timely filing.

Get your FIRA collection right, maintain clean GST records, and claim those refunds—it's money you've already earned.

How Saas exporters can claim GST refund with FIRA

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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