RBI EASES FOREX REPORTING RULES FOR SMALL SERVICE EXPORTERS & IMPORTERS
KEY REGULATORY CHANGES:
1. Resident
individual service exporters: EDF deemed filed upon submission of
payment-credit information to the authorised dealer bank.
2. Other service
exporters: Simplified EDF treatment for inward remittances up to ₹10 lakh per
service.
3. Service imports:
IDPMS reporting applies only to non-individual resident importers where
invoice/contract value exceeds ₹10 lakh.
4. Bank reporting
timeline: Five working days after receipt of relevant information.
Regulatory
reference: FEMA (Export and Import of Goods and Services) (Second Amendment)
Regulations, 2026.
# R V SECKAR, FCS,
LLB 79047 19295
