As an Indian exporter, navigating the complexities of international transactions and compliance can feel like solving a complex puzzle. Today, we'll explore a crucial piece of that puzzle: FIRC

FIRC full form is Foreign Inward Remittance Certificate. It is a document issued by banks as proof of receiving international payments. Over the years, regulations around FIRC have changed significantly, creating confusion and mystery around this important document. Let's clear the air and decode the what, who, and why of FIRC.

What is FIRC? FIRC Full Form, Meaning and More

As we've covered, the full form of FIRC is a Foreign Inward Remittance Certificate and it serves as a proof of foreign transfers. Until 2016, <a href="https://rbidocs.rbi.org.in/rdocs/FEMAMASTER/PDFs/1061.PDF?no_follow=true/">AD Category I Banks</a> were authorised to issue FIRCs to exporters for receiving international payments. This document was essential for exporters to obtain after each cross-border payment. It served not only as proof of payment receipt but also as a crucial document for claiming export-related incentives, such as tax exemptions on foreign currency payments received in India.

Changing RBI Guidelines: From FIRC to FIRA

FIRA is often still referred to by its old name, FIRC. While both documents serve the same purpose, FIRC is technically only issued for returns on&nbsp;Foreign Direct Investment (FDI )or Foreign Institutional Investment (FII). For all other export collections, FIRA is what you need.

For clarity, we'll use the term FIRC moving forward, but it refers to FIRA throughout.

Anyone receiving foreign payments needs FIRC.&nbsp; Beyond goods and service exporters engaging in international trade, many individuals and entities may receive international payments without realising it.&nbsp;

Overall, the following typically require a FIRC:

Beyond compliance, here’s why FIRC is crucial for exporters:

FIRCs are issued by AD Category I banks. You can contact your bank to get your FIRC after receiving your foreign payment. <a href="https://www.skydo.com/blog/how-to-get-firc-certificate-online">Alternatively, you can also use platforms like Skydo to get your FIRC instantly after every payment.&nbsp;</a>

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: 

Receiving your export payment directly through your bank can make obtaining an FIRC a lengthy process. You need to submit a request to the bank, and the bank typically takes 7-15 days to provide the FIRC. You may also need to follow up multiple times, and banks often charge at least INR 400 to issue the FIRC, depending on the institution.

<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. 

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>

What is the difference between eBRC and FIRC?

Generally speaking, e-BRC applies mostly to goods and software exporters (under <a href="https://stpi.in/en/home?no_follow=true/">STPI</a>). If you are one of them, you can use this simple decision tree to understand which documents you will 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.

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

Managing international trade requires careful attention to purpose codes, which help classify payments and transactions. The S0101 purpose code is specifically used for advance payments made against imports from countries other than Nepal and Bhutan. Selecting the correct purpose code ensures compliance with RBI and FEMA regulations, supporting the smooth flow of funds and legal transparency for import-related payments.

The S0101 purpose code is used for payments made in advance for imports of goods and services into India, except those made to Nepal and Bhutan. This code applies when an Indian importer makes an advance payment to a foreign supplier for goods or services that will be delivered at a later date. It helps track inward remittances related to import activities, ensuring that the transaction is correctly classified under <a href="https://www.rbi.org.in/commonman/English/Scripts/Notification.aspx?Id=1410?no_follow=true">RBI guidelines</a>.

Proper use of the S0101 purpose code allows businesses to comply with <a href="https://enforcementdirectorate.gov.in/fema?no_follow=true">FEMA regulations</a> and ensures that the advance payments made for imports are routed correctly through the financial system. This is crucial for maintaining transparency and avoiding regulatory issues.

Importance of S0101 Purpose Code in Inward Remittance

The S0101 purpose code is essential for importers who make advance payments to suppliers in countries other than Nepal and Bhutan. By selecting the correct purpose code, such as S0101, businesses can ensure that their payments are processed smoothly and comply with the RBI’s stringent reporting standards.

Advance payments against imports require accurate classification to avoid potential delays or regulatory problems. The S0101 purpose code helps ensure that the payment is properly recorded as an advance for future imports, enabling businesses to maintain operational efficiency without disruptions. Properly categorizing the remittance as per RBI guidelines also supports the legal inflow and outflow of foreign exchange.

Understanding Purpose Codes: Beyond S0101

Purpose codes like S0101 are part of a broader system that categorises international payments, ensuring transparency and compliance with RBI and FEMA regulations. The S0101 purpose code is specific to advance payments for imports, but other purpose codes cover different types of transactions, such as exports, consultancy services, or personal remittances.

By using the correct <a href="https://www.skydo.com/blog/what-is-purpose-code-and-why-is-it-required">purpose code</a>, businesses help the RBI monitor the flow of foreign exchange in and out of the country, which is crucial for economic stability and regulatory oversight. Choosing the wrong code can lead to misreporting and complications, which may result in penalties or delays. For importers, understanding the nuances of each purpose code is vital to ensuring that transactions are categorised and reported accurately.

How to Select the Right Purpose Code for Your Transaction

Selecting the <a href="https://www.skydo.com/blog/rbi_purpose_code_for_inward_remittance">right purpose code</a> is critical for ensuring that your inward remittance or advance payment complies with RBI and FEMA guidelines. The S0101 purpose code should be selected when you’re making an advance payment against an import from countries other than Nepal and Bhutan. Before finalizing the transaction, it is important to confirm the nature of the import and ensure that the S0101 code correctly reflects the payment.

Improper selection of purpose codes can lead to delays or misreporting, which could result in penalties or complications in the remittance process. If you are uncertain about which purpose code to use, consult your bank or a financial advisor to confirm the correct code. Proper documentation, such as contracts or invoices, should accompany the remittance process to ensure smooth and timely transactions.

Conclusion: Ensuring Compliance with the S0101 Purpose Code

The S0101 purpose code is crucial for importers who make advance payments for imports from countries other than Nepal and Bhutan. By using the correct purpose code, you ensure that your transaction complies with RBI and FEMA regulations, allowing for smooth foreign exchange flows into India. Always verify your transaction details and select the correct purpose code to avoid delays or penalties.

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Selecting the correct purpose code is essential when handling international transactions, particularly in the IT and software services sector. The P0807 purpose code is specifically used by Indian companies that provide software development or IT services to foreign clients but perform the work entirely in India. This guide explains how the P0807 code supports compliance with RBI and FEMA regulations, ensuring seamless inward remittance for off-site software exports.

The P0807 purpose code is used for transactions involving off-site software exports, meaning Indian companies are receiving payments from foreign clients for IT services or software development projects completed in India. This code helps track inward remittances related to software and IT services, ensuring that the payment is correctly categorised as export earnings under <a href="https://www.rbi.org.in/commonman/English/Scripts/Notification.aspx?Id=1410?no_follow=true">RBI guidelines.</a>

When foreign exchange inflows are linked to software exports, they must be classified correctly under this purpose code to comply with <a href="https://enforcementdirectorate.gov.in/fema?no_follow=true">FEMA regulations</a>. This is crucial for maintaining transparency and ensuring the proper flow of funds into India’s economy.

Importance of P0807 Purpose Code in Inward Remittance

The P0807 purpose code is particularly important for IT companies that work on off-site software exports. This code ensures that the inward remittance related to software development or IT services provided to foreign clients is recognized as an export of services. By selecting the correct purpose code, businesses can avoid regulatory issues and streamline the remittance process.

Since IT services play a significant role in India’s economy, accurately categorising these transactions under P0807 ensures that the inflow of foreign exchange is reported correctly. This helps businesses comply with RBI guidelines and avoid potential delays in processing.

Understanding Purpose Codes: Beyond P0807

<a href="https://www.skydo.com/blog/what-is-purpose-code-and-why-is-it-required">Purpose codes</a>, such as P0807, are designed to help track and categorize various types of international transactions. Each purpose code corresponds to a specific type of remittance, allowing the RBI to monitor the flow of foreign exchange and ensure compliance with FEMA regulations.

The P0807 code specifically applies to software and IT services exports, but there are many other codes for different types of international transactions, such as goods exports, consultancy services, or personal remittances. Choosing the right purpose code ensures that businesses report transactions accurately and comply with Indian regulatory frameworks.

Selecting an incorrect purpose code can lead to misreporting, which may result in penalties or delays in the remittance process. Therefore, it’s essential for businesses to fully understand the purpose codes that apply to their specific transactions.

Choosing the appropriate purpose code is crucial for ensuring your inward remittance complies with RBI and FEMA guidelines. For businesses in the IT and software sectors, the P0807 purpose code should be used when receiving payments for software development or IT services provided to foreign clients, with the work performed entirely in India.&nbsp;Be sure to explore our <a href="https://www.skydo.com/blog/rbi_purpose_code_for_inward_remittance">guide</a>&nbsp;on choosing the right purpose code for your business to ensure full compliance.

Before submitting any remittance details, verify the type of transaction and ensure that the purpose code matches the services provided. In the case of software exports, using the P0807 code ensures the transaction is processed smoothly. If you're unsure about which code to select, consult with your bank or financial advisor to avoid complications and ensure that the foreign exchange inflow is correctly reported.&nbsp;

Proper documentation, such as contracts or invoices for services rendered, should be provided to avoid discrepancies and delays in the remittance process.

Conclusion: Ensuring Compliance with the P0807 Purpose Code

The P0807 purpose code is critical for Indian IT companies that provide off-site software exports and receive payments from foreign clients. By selecting the correct code, businesses ensure compliance with RBI and FEMA regulations, and that the inward remittance is properly categorised. Always verify the transaction details and select the right purpose code to ensure smooth and timely processing of foreign exchange inflows.

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P0807

Selecting the correct purpose code for international transactions is vital for complying with Reserve Bank of India (RBI) and FEMA (Foreign Exchange Management Act) regulations. The P1006 purpose code is specifically used for businesses that offer business consultancy, management consultancy, or public relations services to foreign clients. This code ensures proper classification of inward remittances, aiding compliance with regulatory guidelines and smooth flow of foreign funds into India.

The P1006 purpose code is used for transactions related to the provision of business services, including management consultancy and public relations. This code is used when an Indian company or individual receives payments from foreign clients for offering professional services, such as business strategy consultation, management advice, or PR services. Properly classifying the inward remittance with the P1006 code ensures that the transaction is recorded correctly and reported to the RBI.

When foreign exchange inflows are categorised under this purpose code, they comply with both <a href="https://www.rbi.org.in/commonman/English/Scripts/Notification.aspx?Id=1410?no_follow=true">RBI guidelines</a> and <a href="https://enforcementdirectorate.gov.in/fema?no_follow=true">FEMA regulations</a>, ensuring legal and regulatory clarity for businesses.

Importance of P1006 Purpose Code in Inward Remittance

The P1006 purpose code plays a crucial role for businesses involved in consultancy and PR services. By assigning the correct purpose code, such as P1006, you ensure that the payments received from foreign clients are classified appropriately under RBI guidelines. This classification is critical for inward remittances related to business services, preventing any legal complications.

Whether you’re a management consultant, a business strategist, or a public relations professional offering services to international clients, choosing the P1006 purpose code is essential for processing the payments efficiently. By doing so, you can avoid delays in foreign exchange transactions and ensure that all inward remittances are routed and recorded accurately.

Understanding Purpose Codes: Beyond P1006

<a href="https://www.skydo.com/blog/what-is-purpose-code-and-why-is-it-required#process-of-selecting-the-right-purpose-code">Purpose codes</a>, such as P1006, are part of a broader system that helps categorise all kinds of cross-border transactions. These codes are designed to provide clarity on the nature of international payments, helping the RBI monitor and regulate the inflow of foreign exchange into India. By assigning the right code, businesses and individuals ensure that their transactions are reported correctly, allowing smooth foreign currency movements under FEMA regulations.

While the P1006 code applies specifically to consultancy and PR services, other purpose codes apply to different types of transactions, such as exports of goods, software services, or investments. Selecting the correct code prevents misreporting and ensures that the transaction complies with Indian regulatory frameworks.

How Do You Choose the Right Purpose Code for Your Transaction?

Choosing the appropriate purpose code is essential for ensuring that your inward remittance complies with RBI guidelines. For businesses providing consultancy or PR services, the P1006 purpose code should be used when receiving payments from foreign clients for services rendered.&nbsp;

Before you finalise your remittance, confirm the nature of the transaction and ensure that the purpose code matches the services provided. Incorrect purpose code selection can lead to delays, misreporting, or even regulatory penalties. If you’re uncertain about which code applies to your transaction, consult your bank or a financial advisor to confirm the correct code. You can also check out our <a href="https://www.skydo.com/blog/rbi_purpose_code_for_inward_remittance">guide</a> on selecting the right purpose code for your business.&nbsp;

By ensuring the proper documentation—such as contracts or invoices for services rendered—is provided, you can facilitate a smooth remittance process.

Conclusion: Ensuring Compliance with the P1006 Purpose Code

The P1006 purpose code is essential for businesses offering consultancy, management, or PR services to international clients. By choosing the right code, you ensure that your transaction complies with RBI and FEMA regulations, and that the inward remittance is routed correctly. Always confirm that the transaction details and purpose code align with the services provided, ensuring a smooth and compliant transfer of foreign exchange into India.

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Working with international clients but getting lost in the maze of banking codes?&nbsp;

If you've ever been asked for your ABA number while setting up payment details, you're not alone. ABA stands for American Bankers Association, and these numbers are essential for receiving bill payments into your U.S. bank account or other financial institution. Think of it as your bank's unique address in the American banking system.

In this guide, we'll break down everything you need to know about ABA numbers – from what they are and where to find them to how they work in getting your hard-earned money safely into your account. 

An ABA or routing number is your bank's identification code in the United States. Every U.S. bank has at least one of these nine-digit numbers, which you've probably spotted at the bottom of your checks.

It is like a postal digit code for your bank – it helps other banks know exactly where to send money when someone's making a payment to your account number. You'll often see it referred to as a routing number, though some people still call it a check routing number since it's printed on paper checks.

Your bank might have several different ABA numbers, which can initially seem confusing. Here's why: Large banks often have multiple ABA numbers because they operate across different regions and handle various electronic transactions. Think of it like having different phone extensions for different departments in a company.

This is why it's important to always check with your bank about which ABA number to use for your specific transaction. Using the wrong one could delay your payment or cause rejection, especially for wire transfers.

This clarity around which number to use becomes especially important when setting up payment details with clients or employers, so it's worth double-checking with your bank about which number to use for different types of transactions.

Let's break down what those nine digits in your ABA number mean. While it might look like a random string of numbers, each digit serves a specific purpose in ensuring your money gets to the right place.

To make things easier, we will explain with an example.&nbsp;

When you look at ABA number 026009593, it's like a detailed address for your bank:

Let's look at another ABA number: 121000358

This organized structure helps route your money accurately through the U.S. banking system, ensuring it reaches the correct bank in the San Francisco region. Understanding these patterns can help verify whether you use the correct ABA number for your transactions.

Understanding this structure can be helpful when verifying your banking details with clients – you can quickly check if the number they're using matches your bank's region and follows this pattern.

Is the ABA code the same as the SWIFT Code?&nbsp;

If you're handling domestic and international transactions, you'll come across two types of bank codes: ABA numbers and SWIFT codes. While they might seem similar initially, they serve different purposes in getting your money where it needs to go.

ABA number is like your bank's domestic address – it's only used for transactions within the United States. It's a straightforward 9-digit number that tells other U.S. banks exactly where to send your money. You'll use this when setting up direct deposits or receiving electronic payments from U.S. clients.

<a href="https://www.skydo.com/swift-code-finder">SWIFT codes</a>, on the other hand, are your bank's international address. When clients from overseas want to send you money, they'll need your bank's <a href="https://www.skydo.com/blog/swift-money-transfer-ultimate-guide">SWIFT code</a>. These codes look slightly different – they use letters and numbers (like CHASUS33) and help banks worldwide identify each other for international transfers.

It's worth understanding both codes, especially when receiving international payments. As an Indian business or freelancer receiving payments from U.S. clients, you must share your bank's SWIFT code, not the ABA number. You're receiving an international wire transfer, and SWIFT codes are used for cross-border payments.

Remember: ABA numbers are only used for electronic transfers within the U.S. banking system. When receiving payments from U.S. clients using your Indian bank account number, always provide your bank's SWIFT code to ensure your payment arrives safely and efficiently .

📚Note: Using the wrong code might delay your payment or cause rejection, so always clarify with your client whether they're sending money domestically (ABA) or internationally (SWIFT).&nbsp;

What is the ABA Routing Number Policy of India?&nbsp;

As an Indian freelancer or business owner, you'll mainly work with two banking codes: IFSC codes for transfers within India, and SWIFT codes for receiving payments from U.S. clients. You won't need to worry about ABA numbers since they're only used for transfers within the U.S. banking system.

Like the U.S. banking system uses ABA numbers to route payments, Indian banks use IFSC codes. Think of it as India's equivalent of the ABA system – different code, same purpose.&nbsp;

When receiving money from India, you must work with IFSC codes instead of ABA numbers.

This is a good reminder that different countries have their unique banking codes and systems:

So, if you're doing business internationally, you'll want to familiarize yourself with the banking codes used in your clients' countries to ensure smooth payment processing.&nbsp;

Receive Payments From the US Easily with Skydo&nbsp;

For Indian businesses <a href="https://www.skydo.com/blog/how-to-receive-money-from-usa-to-india">receiving U.S. payments,</a> SWIFT codes are more relevant than ABA numbers. While traditional banks have complex processes for international transfers, modern payment platforms are simplifying these transactions.&nbsp;

Skydo, for instance, offers a streamlined approach for freelancers and small businesses, with features like zero FX margin and instant FIRA, making international payments more cost-effective and efficient.

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

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The vision of the government of India, Atmanirbhar Bharat – a self-reliant India, includes building a robust ecosystem to support Indian exporters.&nbsp;

The Remission of Duties and Taxes on Exported Products (RoDTEP) scheme is a promising initiative in this direction. It was launched on 01st January 2021 to empower exporters and replace the Merchandise Exports from India Scheme (MEIS) to comply more with the World Trade Organization (WTO) norms.&nbsp;

There are multiple aspects to know about RoDTEP which we have covered in detail in this blog. 

The RoDTEP scheme refunds the amount spent on taxes and duties by exporters. These taxes and duties are levied by the local, state, and central governments and were otherwise not refundable by any other scheme. The refund amount is calculated as a specific percentage of the Free On Board (FOB) value of the product or a fixed amount based on the per unit of measurement.&nbsp;

Consider this very simple example. Consider you run a company that exports T-shirts from India. So while making those T-shirts, you may have to pay the following taxes:

Now, these taxes aren't refunded under GST.&nbsp; With the RoDTEP Scheme, the government gives a refund (say ₹18 in this case) to cover these hidden taxes. This makes exports competitive in international markets by reducing costs.

So, the exporter gets a credit or refund which they can use to reduce future taxes or transfer to someone else.

What are the Features of the RoDTEP Scheme?

The RoDTEP scheme offers two-fold benefits to the exporters: it solves critical bottlenecks in the export trade and enhances India’s competitiveness in the global arena. Here are the main features of the scheme that make it possible:

Refund of Previously Non-Refundable Taxes and Duties

Under <a href="https://www.dgft.gov.in/CP/?opt=meis">MEIS</a>, costs like VAT on fuel, mandi taxes, and electricity duties were non-refundable. RoDTEP rebates all of the above and other embedded costs to zero-rate exports. This decreases the tax burden on exporters and encourages them to sell products internationally.&nbsp;

The process to apply and receive a rebate under the RoDTEP scheme is automated and digitized from start to end.&nbsp; The exporter must log in to their <a href="https://www.icegate.gov.in/">ICEGATE</a> account which is a hub for all electronic transactions between the exporters and the customs department.&nbsp; After logging, they fill out the application form and attach documents like the shipping bill and <a href="https://www.skydo.com/blog/what-is-e-brc">Electronic Bank Realisation Certificate (eBRC)</a>. The refund is credited in the form of electronic scrips which exporters can track through an electronic ledger maintained by the Central Board of Indirect Taxes and Customs (CBIC)

RoDTEP covers a broad range of sectors like gems and jewellery, automobiles, plastic, marine, agriculture, and electronics. In total, it covers <a href="https://content.dgft.gov.in/Website/Appendix%204RE%20RoDTEP.pdf">8,555 tariff lines</a> –&nbsp; a product as defined in the list of tariff rates.

Inclusion of Various Export Entities

To support Small and Medium Companies (SMEs) and boost labour-intensive sectors like textiles, the RoDTEP scheme includes various export entities. These include Domestic Tariff Areas (DTA), Export Oriented Units (EOU), and Special Economic Zones (SEZs).

Who Can Claim Benefits Under the RoDTEP Scheme?

The RoDTEP scheme is available to exporters from various sectors and industries. Here’s a list to help you understand who can claim benefits under this scheme:

Which taxes will be Incorporated Into the RoDTEP scheme?

Here is a list of taxes compensated under the RoDTEP scheme:

How can you claim benefits under the RoDTEP Scheme?

Here is a step-by-step process you must follow to claim benefits under the RoDTEP scheme:&nbsp;

When you are filing the shipping bills, it’s mandatory to make a declaration to claim benefits under the RoDTEP scheme. You can do that by adding a specific code like RoDTEPY to the shipping bill

Register to the ICEGATE portal using a Digital Signature Certificate (DSC). This account will be useful for managing all claims and transactions under the RoDTEP scheme

Before you submit the details, take a moment to verify if the goods are eligible under the RoDTEP scheme. Also, check if the information is accurately captured in the application form

The customs officials will verify the details in the form and approve the claim for eligible goods if everything is right

On successful verification, the customs officials will generate a scroll containing the calculated benefit amount which will be made available to your ICEGATE account. Using these scrolls you can create electronic scrips&nbsp;

You can use the electronic scrips to pay for basic custom duties or transfer to other importers

What Documents Do You Need to Claim Benefits Under the RoDTEP Scheme?

Here are the documents you need to keep in handy to claim rebates for the duties and taxes paid by you during the export:

This is one of the most important documents to claim benefits under the RoDTEP scheme. Submit copies of all the shipping bills related to the export including the claim declaration

An&nbsp;<a href="https://www.skydo.com/blog/what-is-export-invoice">export invoice</a> is a document that contains the product details like name, description, rate, and the Free On Board (FOB) value

Packing list mentions product details like description and quantity. This document is needed because the customs officials use it to verify what has been exported

A <a href="https://www.skydo.com/blog/bank-realisation-certificate-all-you-need-to-know">Bank Realisation Certificate (BRC)</a> is proof that you have received the payment from the buyer in exchange for the goods exported

The bill of lading is useful when you transport the goods via sea freight. The airway bill is for air freight. Both the bills are useful to prove the goods were dispatched

Export Promotion Copy of Shipping Bill

If the nature of goods makes them eligible to make claims under different schemes including RoDTEP, then this document must be retained

Electronic Data Interchange (EDI) Registration&nbsp;

It’s important to show the ICEGATE registration to facilitate the electronic communication between you and customs authorities

This form requires the exporter to declare that they adhere to the RoDTEP guidelines and eligibility criteria

This is not mandatory, but if it’s applicable, then the exporter must produce GST returns to prove compliance with tax rules related to their exports

Letter of Undertaking (if applicable)

This is also conditional and only applies to exporters who are eligible under GST but don’t have to pay IGST

Receive Seamless Export Payments with Skydo

The RoDTEP scheme proves the commitment of the Indian government to simplify international trade for exporters. Skydo is a platform that simplifies international payments for exporters.

Skydo offers a smart, fast, and affordable solution for exporters with low fees and no hidden charges. With Skydo’s instant <a href="https://www.skydo.com/blog/all-you-need-to-know-about-firc-a-complete-guide">Foreign Inward Remittance Advice (FIRA</a>), you don’t have to worry about documentation and focus solely on growing your business.&nbsp;

Join the community of exporters who trust Skydo for international payments. Sign up now. 