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From 1 October 2026, services crossing India's border run through the same two systems as goods: your bank enters an import of services in IDPMS, and a business exporting services files an EDF form, the Export Declaration Form. Both come from the Foreign Exchange Management (Export and Import
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In export, BRC stands for Bank Realisation Certificate: the record that the payment for a specific export has been received in India against that shipping bill or invoice. Today it exists as the eBRC, the electronic Bank Realisation Certificate on DGFT's portal. Since Trade Notice 33/2023-24
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Every foreign currency payment that crosses an Indian bank carries a five character purpose code. Your bank puts it on the transaction whether you choose it or not, and it is the single field that decides how RBI classifies your money in India's balance of payments. Here is
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A merchant of record is the legal entity that sells to your customer. It takes the payment, appears on the card statement, carries the chargeback, and owes the sales tax. Most software companies use one so they can sell into forty countries without registering in forty countries. India splits that
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Customs duty is the tax Indian Customs charges on goods crossing the border. On imports you pay it before your cargo is released, no payment, no Out of Charge, no delivery. It is calculated on the assessable value of the shipment, not the invoice value, and it is almost never
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OPGSP stands for Online Payment Gateway Service Provider, the arrangement that let Indian exporters and importers collect and send small cross-border payments through an intermediary tied to a bank, rather than through their own wire transfer. It was never a licence. An OPGSP held no authorisation from the Reserve
trade-insights
This week’s trade landscape is dominated by heightening geopolitical tensions in the West and significant domestic policy shifts aimed at digitizing MSME global outreach. From potential tariff wars to new financial support missions, Indian exporters must navigate a complex mix of rising logistics costs and improved regulatory frameworks. 1.
TCS on foreign remittance is an advance tax your bank collects when you send money abroad under the Liberalised Remittance Scheme. It is not a fee and not an extra tax, it sits against your PAN and comes back to you when you file your return. It applies only above
trade-insights
This week marks a significant shift in India’s fiscal landscape as the government prepares to overhaul tax laws to favor long-term industrial growth. The proposed 2026 Bill introduces sweeping changes designed to secure India’s position in the global supply chain and attract massive foreign investment. 1. Extended
trade-insights
This week marks a transformative period for Indian trade, characterized by the activation of major free trade agreements alongside new regulatory hurdles in the North American market. For procurement managers and SME leaders, these developments necessitate a dual focus on emerging market access and rising logistics costs. 1. Historic India-
trade-insights
Trade dynamics in the Indian agricultural sector are shifting as rising input costs and climate stressors impact the supply of essential protein-rich commodities. This week's roundup highlights the growing pressure on food imports and the challenges facing domestic livestock and poultry exporters. 1. Escalating Animal Feed Costs
trade-insights
This week marks a historic turning point for Indian exporters with the activation of a major trade pact, even as domestic logistics and regulatory clarifications demand immediate attention from procurement teams. As trade volumes reach new peaks, staying ahead of compliance and infrastructure shifts is vital for maintaining supply chain