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Inward Remittance Certificate (FIRC) in Mumbai

Reviewed by CA and CS Team, Patron Accounting LLP ICAI & ICSI Registered| 15+ Years Experience| Last Updated: Verify Credentials →

Helps with: obtaining the bank e-FIRC, attesting it, and reconciling remittances to invoices.

For: freelancers, exporters and SaaS founders receiving USD, EUR or other foreign currency.

Fees: starting from Rs 2,499 (exclusive of GST and government charges).

Timeline: 1 to 3 working days for attestation and reconciliation once the FIRC is available.

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FIRC and e-FIRC: Overview

📌 TL;DR - Inward Remittance Certificate (FIRC) Services at a Glance

A FIRC, or Foreign Inward Remittance Certificate, is proof that foreign currency was received into India, issued by your Authorised Dealer bank under FEMA. For exports of goods and services it is now an e-FIRC generated through the RBI's EDPMS. It is essential for GST export refunds and FEMA compliance, and a CA attests and reconciles it to your invoices.

Parameter	Detail
What It Is	Proof of foreign currency received into India
Issued By	Authorised Dealer (AD Category I) bank
Electronic Form	e-FIRC via EDPMS, as an Inward Remittance Message (IRM)
Governing Law	FEMA and RBI master directions
Used For	GST export refund, FEMA compliance, DGFT incentives, audit
Cost	Starting from Rs 2,499 (Exl GST and Govt. Charges)
CA Role	Attestation and reconciliation; UDIN where a certificate is issued

A Foreign Inward Remittance Certificate (FIRC) is the official proof that you received money from abroad into your Indian bank account. It is issued only by an Authorised Dealer (AD Category I) bank under FEMA and RBI rules, and for export proceeds it takes the form of an e-FIRC generated through the Export Data Processing and Monitoring System (EDPMS).

Exporters, freelancers and SaaS founders need it for GST export refunds, FEMA compliance and incentives. Patron Accounting LLP attests and reconciles your FIRCs and supports the GST and FEMA filings.

Content is reviewed quarterly for accuracy.

What Is a FIRC?

A FIRC, or Foreign Inward Remittance Certificate, is an official document issued by an Authorised Dealer bank in India confirming that a specified amount of foreign currency was received from abroad and credited, usually after conversion to rupees. It records the beneficiary, the foreign remitter, the foreign currency amount and INR equivalent, the date of credit and the RBI purpose code.

Only AD Category I banks can issue a valid FIRC. For export of goods and software services, the physical FIRC has been replaced by the e-FIRC, generated through the RBI's EDPMS as an Inward Remittance Message. A CA attests and reconciles it for tax and FEMA use.

For most compliance, including GST refunds, you need the transaction-specific e-FIRC or its IRM number, not the consolidated FIRS. This proof underpins your GST refund on service exports.

Key Terms for Inward Remittance Certificate (FIRC):

AD Category I bank: the Authorised Dealer bank permitted to handle forex and issue the FIRC.
EDPMS: the RBI's Export Data Processing and Monitoring System that tracks export remittances.
IRM: the Inward Remittance Message generated in EDPMS, which serves as the e-FIRC.
Purpose code: the RBI code describing the remittance, for example P0802 for software services.
FEMA: the Foreign Exchange Management Act governing all cross-border forex transactions.

Generated via EDPMS e-FIRC (IRM)

Who Needs a FIRC?

Anyone receiving foreign currency for business or export needs a FIRC. Common situations include:

Freelancers and professionals: consultants, developers, designers and writers paid by overseas clients.
Exporters of goods: businesses receiving export proceeds, where the e-FIRC links to EDPMS.
SaaS and software founders: companies billing foreign customers in USD or EUR for software services.
Service exporters: IT, consulting and other service providers claiming GST export refunds.
Startups receiving FDI: companies receiving foreign investment, where a FIRC evidences the inflow.

FIRC vs e-FIRC vs FIRS vs e-BRC:

Document	What It Is
FIRC	Certificate proving a specific foreign currency inflow, for business, investment and export
e-FIRC	The electronic FIRC for export proceeds, generated via EDPMS as an Inward Remittance Message
FIRS	Foreign Inward Remittance Statement, a consolidated statement for personal remittances; not the transaction-specific e-FIRC
e-BRC	Electronic Bank Realisation Certificate, used with DGFT to confirm export proceeds for incentives

Our FIRC Services

Service	What We Do
e-FIRC procurement support	We help you request and obtain the e-FIRC or IRM from your AD bank.
CA attestation	Attestation of the FIRC where a certified copy is required, with a UDIN.
Reconciliation	Matching FIRCs to invoices and, for goods, to shipping bills in EDPMS.
GST export refund support	FIRC-backed documentation for zero-rated export refund claims.
FEMA compliance	Ensuring purpose codes and records meet FEMA and RBI requirements.
Record keeping	Organised FIRC records for the 5-year retention FEMA expects.

Our Process

5 Steps to Obtain and Use a FIRC

From receiving the remittance to a reconciled, GST-ready e-FIRC, attested with a UDIN where a certified copy is needed.

Step 1

Receive the Remittance

Ensure your invoice, contract and the correct purpose code are with the bank.

Invoice and contract Correct purpose code

Remittance 01

Step 2

Request the e-FIRC

Apply to your AD bank, which generates the e-FIRC or IRM via EDPMS.

AD bank request e-FIRC / IRM

Request 02

Step 3

CA Attestation

We attest the FIRC where a certified copy is required, with a UDIN.

Attested copy Live UDIN

Attestation 03

Step 4

Reconciliation

We match the FIRC to invoices and shipping bills under SA 500.

Matched to invoices Shipping bills

Reconciliation 04

Step 5

Use It

For GST export refund, FEMA compliance, DGFT incentives or audit, with records retained.

GST refund ready Records retained

Use It 05

Documents Required: FIRC Checklist

Export invoice or service invoice for the remittance.
Contract or agreement with the foreign client.
Bank credit advice and account statement showing the inflow.
RBI purpose code for the transaction.
Shipping bill, for export of goods.
GST registration and export documentation, for refund claims.

What a FIRC contains: the beneficiary name, the Indian recipient of the payment; the remitter name and country, the foreign payer; the amount in foreign currency, such as USD, EUR or GBP; the INR equivalent credited and the conversion details; the RBI purpose code and the date of credit; and the issuing AD bank details, with CA attestation and UDIN where applicable.

Common Challenges and How We Solve Them

Challenge	Impact	How Patron Accounting Solves It
Wrong purpose code on the remittance	Wrong e-FIRC generated	We confirm the correct RBI purpose code before and after credit.
FIRS supplied instead of e-FIRC	Refund proof rejected	We obtain the transaction-specific e-FIRC or IRM you actually need.
FIRCs not reconciled to invoices	Audit and refund gaps	We match each FIRC to invoices and shipping bills.
GST refund stuck for want of proof	Refund delayed	We provide FIRC-backed documentation for the refund claim.

FIRC Service Fees

Fee Component	Amount
Patron Accounting Professional Fees	Starting from INR 2,499 (Exl GST and Govt. Charges)
Bank e-FIRC issuance	Charged by your AD bank, as applicable
Multiple remittances or ongoing support	Quoted after a quick review
GST	As applicable on professional fees

All fees and charges listed are indicative only and do not constitute a binding offer. Final amounts may vary depending on the volume of work and the complexity involved.

Professional service charges for drafting, filing, and representation are separate from the statutory fees. The exact fee depends on the complexity of the case, disputed amount, and number of hearings required. Contact us for a detailed quote.

Get a free Inward Remittance Certificate (FIRC) consultation - Call +91 945 945 6700 or WhatsApp us. No-obligation assessment.

How Long Does It Take?

Stage	Estimated Timeline
Bank generates e-FIRC after credit	A few days (bank-dependent)
Share FIRC / IRM and invoices	Day 1
Attestation and reconciliation	1 to 3 working days
Recurring exporters and freelancers	Reconciled as each remittance arrives
Documentation aligned to your refund	GST and FEMA timeline

Attestation and reconciliation are typically completed within 1 to 3 working days once the FIRC or IRM is available from your bank. The bank's own issuance of the e-FIRC can take a few days after the remittance is credited and reported to EDPMS. For regular exporters and freelancers, we set up a recurring process so each remittance is reconciled as it arrives.

Key Benefits

Benefits of Professional Support

GST refunds unlocked

FIRC-backed proof supports your zero-rated export refund claims.

FEMA peace of mind

Correct purpose codes and records keep you compliant and audit-ready.

Right document

We get the e-FIRC you need, not just a consolidated FIRS.

Clean reconciliation

Every remittance matched to an invoice and, for goods, a shipping bill.

Why Exporters and Freelancers Trust Patron Accounting

10,000+ Businesses | 4.9 Google Rating | 50,000+ Documents Certified | 15+ Years

"As a SaaS founder billing in USD, I struggled with FIRCs and GST refunds. Patron obtained the e-FIRCs, reconciled them to invoices, and our export refund came through cleanly. - founder, SaaS company"

Trusted by businesses and professionals, including teams at Hyundai, Asian Paints and Bridgestone. With offices in Pune, Mumbai, Delhi, and Gurugram, Patron Accounting serves exporters and freelancers across India - both in-person and remotely.

On Your Own vs CA-Supported FIRC

Factor	On Your Own	CA-Supported (Patron)
Right document	FIRS vs e-FIRC confusion	Correct e-FIRC / IRM obtained
GST export refund	Often delayed	FIRC-backed and refund-ready
Reconciliation	Manual, error-prone	Matched to invoices and shipping bills
FEMA records	Incomplete	Organised for 5-year retention

Related Services

Explore our GST export refund, FEMA and certification services:

GST Refund on Service Exports - refunds for zero-rated service exports.
GST Refund Exports under LUT - export refunds under a Letter of Undertaking.
GST Refund for SaaS Exporters - tailored for SaaS and software founders.
IEC Registration - Importer Exporter Code for cross-border trade.
FDI Compliance - reporting for foreign direct investment inflows.
Private Limited Company Compliance - ongoing ROC and statutory compliance.

FEMA and Compliance Framework

Governing law: the Foreign Exchange Management Act (FEMA) governs cross-border remittances, and the Reserve Bank of India issues master directions under which only Authorised Dealer Category I banks issue FIRCs.

e-FIRC: for export proceeds, the e-FIRC is generated through the RBI's EDPMS as an Inward Remittance Message.

Tax use: the FIRC supports GST export refunds for zero-rated supplies and is recognised by the DGFT for incentives.

Certification: where a CA attests the FIRC, the ICAI standards apply and a UDIN is generated, verifiable at udin.icai.org.

What is a FIRC and who issues it?

A FIRC, or Foreign Inward Remittance Certificate, is an official document proving that foreign currency was received into India and credited to an Indian bank account. It is issued only by an Authorised Dealer Category I bank under FEMA and RBI rules. It records the beneficiary, the foreign remitter, the foreign currency amount and INR equivalent, the date of credit and the RBI purpose code, and serves as proof of a compliant inflow.

What is the difference between FIRC, e-FIRC and FIRS?

A FIRC certifies a specific foreign inflow for business, investment or export. The e-FIRC is the electronic version for export proceeds, generated through the RBI's EDPMS as an Inward Remittance Message. The FIRS, or Foreign Inward Remittance Statement, is a consolidated statement typically issued for personal remittances and should not be confused with the transaction-specific e-FIRC, which is what most compliance requires.

Do freelancers need a FIRC?

Yes. Freelancers and professionals receiving payments from overseas clients need a FIRC or e-FIRC as proof of the inward remittance. It is important for income tax, for claiming GST export refunds on zero-rated services, and for FEMA compliance. Providing the correct RBI purpose code, such as P0802 for software services, ensures the bank generates the right e-FIRC for your receipts.

Why is a FIRC needed for a GST refund?

Exporters of services and goods making zero-rated supplies can claim a refund of input tax, and the GST authorities require proof that export proceeds were actually realised in foreign currency. The FIRC or e-FIRC is that proof. Without it, a refund claim can be delayed or rejected. We reconcile each FIRC to the corresponding invoice and provide FIRC-backed documentation so the refund moves smoothly.

How much does FIRC support cost?

At Patron Accounting, FIRC support starts from Rs 2,499 (exclusive of GST and government charges). The bank issues the FIRC itself, so our fee covers procurement support, CA attestation where a certified copy is required, reconciliation to invoices and shipping bills, and GST or FEMA documentation. The final fee depends on the number of remittances and the support needed, confirmed after a quick review.

Is the physical FIRC still issued?

For most export transactions, no. The physical FIRC was discontinued in 2016, except in cases such as Foreign Direct Investment and Foreign Institutional Investment. For export of goods and software services, banks now issue the electronic e-FIRC generated through the RBI's EDPMS. We help you obtain the correct e-FIRC or IRM number, which is what tax and FEMA compliance generally requires today.

How long should I keep FIRC records?

Under FEMA, you should retain records of foreign receipts, including FIRCs, invoices, contracts and bank advices, for at least five years. These may be needed for future audits or queries from the tax authorities or the RBI. We organise and maintain your FIRC records alongside the matching invoices so you are always audit-ready and can substantiate every inflow if questioned.

FIRC kaise milta hai?

Apni invoice, contract aur sahi RBI purpose code bank ko dijiye; bank EDPMS ke through e-FIRC ya IRM generate karta hai, aur hum use attest karke invoices se reconcile karte hain GST refund aur FEMA ke liye.

Quick Answers

What is it? Proof of foreign currency received into India.
Who issues? AD Category I bank.
Electronic form? e-FIRC via EDPMS (IRM).
Used for? GST export refund, FEMA, incentives.
Cost? Starting from Rs 2,499 plus GST.

Get Your FIRC Sorted Now in Mumbai

Get your FIRC sorted now. Call +91 945 945 6700 or message us on WhatsApp for a free quote. e-FIRC support, attestation and GST-ready reconciliation.

Get Your FIRC Support Today in Mumbai

A FIRC is the proof that ties your foreign earnings to clean tax and FEMA compliance, and for exports it is now the e-FIRC generated through EDPMS. Getting the right document, the correct purpose code, and a proper reconciliation is what unlocks GST refunds and keeps you audit-ready.

Patron Accounting LLP, with 15+ years of experience and offices in Pune, Mumbai, Delhi and Gurugram, supports FIRC procurement, attestation and reconciliation for exporters and freelancers across India. 10,000+ Businesses | 4.9 Google Rating | 50,000+ Documents Certified.

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Content Created: 8 June 2026 | Last Updated: | Next Review: 8 December 2026 | Reviewed By: CA & CS Team, Patron Accounting LLP

This page is reviewed on a 6-month cycle and whenever the RBI master direction or EDPMS process changes, so the information stays current and accurate.

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