EFIRC for the purpose code P0802

1. Banks generally resist providing FIRC ( I don't know why). But if you really insist hard, they do provide. Sorry, there is no external link I am aware of. Pls ask your CA to interfere in your conversation with bank. I have personally got the FIRC from banks for may of my clients

2. It is possible. As a back-up document, you can keep e-advice received from bank which mentions that payment bis in foreign currency but it may be rejected by some officers.

3. Yes and you will also need IEC Registration 

Dear sir,

Purpose Code is a code issued by Reserve Bank of India (RBI) to classify the nature of transaction. 

When services are exported then no GST is levied according to the rules of export of services. In such cases, FIRC acts as an important proof of export of services and remittances which are received in lieu of them. There are various details which are included in FIRC. FIRC carries the beneficiary’s name, mode of payment i.e. whether the money has been deposited to the account of beneficiary or cash has been given to him, address and name of remitter, Cheque/DD/TT no. , an exact amount of foreign currency, amount of money when changed into the currency of the country of the beneficiary, name of the person in whose favor the amount has been sent, the purpose for the receipt of remittance and rate of exchange which is prevalent.

Please get the reason why efirc not provided for purpose code p0802 then we will happy to assist you sir.

You just need an LUT and you can still file 0% GST on export of service.

If you wish to claim benefit of SEIS then you would even need IEC code and export under IEC code.

Hope you find the information helpful if you do please rate it 5 and provide your valuable feedback for my improvement.

Thank you.

Hello,

This issue is being faced by many exporters claiming refunds under GST. Ask the bank for the reason why E-FRIC not provided for purpose code P0802.

For SEIS benefits, you also need IEC Registration.

I hope this answer satisfies your requirements.

Regards,

CA Hunny Badlani

Dear Sir,

Hope you are doing well !!

1.We have handled such cases before. We may assist you for the same.

2.You just need to file LUT to claim 0% GST.

3. Yes, it is not possible without eFIRC.

You would need BRC for the same.

Export of services is covered under zero rated supplies. So eFIRC is not required to claim zero GST rate. No documents are required to prove. If assessment happens payment should be coming in your bank account in foreign currency.

In my view eFIRC is not mandatory for SEIS scheme. You may review this link.

https://howtoexportimport.com/No-Bank-realization-Certificate-BRC-required-for-I-192.aspx

Hi

1. Bank can resist that but you can take help from a local professional for getting EFIRC.

2. In case of export of service you should obtain LUT. you can export without charging GST .

3. Yes you need to IEC registration to Claim the benefit that is provided by government under SEIS for exporter of service.