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Glossary of Indian export and GST terms

The abbreviations you meet when you export services from India, with their full forms and what they mean for a freelancer.

Last updated 05 Oct 2026 · Not legal or tax advice

AD code : Authorised Dealer code
The code that identifies your bank's branch for export reporting. Ask your branch for it.
AATO : Annual Aggregate Turnover
Your total turnover for GST in the previous financial year; decides, for example, whether you can file quarterly (QRMP).
ARN : Application Reference Number
The number the GST portal gives you when you file something, such as your LUT. Put the LUT's ARN on export invoices.
CA : Chartered Accountant
A qualified accountant and tax professional in India (member of ICAI). Learn more ↗
DGFT : Directorate General of Foreign Trade
The Government of India body that issues the IEC and runs the e-BRC system. Learn more ↗
e-BRC : Electronic Bank Realisation Certificate
A certificate on the DGFT portal that an export payment was received, generated from your bank's records. Needs an IEC.
EDF : Export Declaration Form
The form every exporter of services files with their bank each month from 1 October 2026, declaring the month's export invoices, within 30 days after the month ends.
EDPMS : Export Data Processing and Monitoring System
RBI's system where banks record your EDFs and mark them off as payments arrive.
EEFC : Exchange Earners' Foreign Currency account
An Indian bank account in which exporters may keep foreign currency instead of converting it to rupees.
FBIL : Financial Benchmarks India Ltd
Publishes the official reference exchange rates (with RBI) each working day; a common source for the invoice-date rate. Learn more ↗
FEMA : Foreign Exchange Management Act, 1999
The law under which RBI makes the export regulations, including the EDF rules (FEMA 23(R)/2026-RB). Learn more ↗
FIRA : Foreign Inward Remittance Advice
Proof from your bank or payment provider that foreign money was received, and for what purpose. FIRC and e-FIRC are similar certificates.
FIRC : Foreign Inward Remittance Certificate
A bank's certificate that foreign money was received. An e-FIRC is the electronic version.
FY : Financial Year
India's tax year, 1 April to 31 March. FY 2026-27 runs from 1 April 2026 to 31 March 2027.
GST : Goods and Services Tax
India's indirect tax. Exports of services are zero-rated: no GST is charged under an LUT. Learn more ↗
GSTIN : Goods and Services Tax Identification Number
Your 15-character GST registration number. Its first two digits are your State's GST code and it contains your PAN. Learn more ↗
GSTR-1 : GST return of outward supplies
The GST return where you report your sales, including export invoices (Table 6A). Monthly, or quarterly under QRMP.
GSTR-3B : GST summary return
The GST return where you report totals and pay tax. Exports go in Table 3.1(b).
IEC : Import Export Code
A 10-character code from DGFT. Not legally required to export services, but several banks ask for it with the EDF. For individuals it equals the PAN, and it's free. Learn more ↗
IFSC : Indian Financial System Code
The 11-character code of a bank branch in India, e.g. HDFC0001234. Learn more ↗
IFF : Invoice Furnishing Facility
An optional monthly upload for quarterly (QRMP) filers. Export invoices can't be reported here.
IGST : Integrated Goods and Services Tax
The GST on supplies between States and on exports. Under an LUT, exports carry IGST at 0%.
IRM : Inward Remittance Message
Your bank's record of a foreign payment received, sent to EDPMS and DGFT.
ITC : Input Tax Credit
GST paid on your business purchases that you can offset or, for exporters, claim as a refund.
LUT : Letter of Undertaking (Form GST RFD-11)
Filed on the GST portal before your first export of each financial year, it lets a GST-registered exporter invoice without IGST.
PA-CB : Payment Aggregator – Cross Border
A payment company licensed by RBI to collect foreign payments for Indian exporters (for example Skydo, Razorpay, Xflow).
PAN : Permanent Account Number
Your 10-character income-tax ID, e.g. ABCDE1234F. Learn more ↗
Purpose code : RBI purpose code
A code that tells your bank why foreign money came in, e.g. P0802 for software services.
QRMP : Quarterly Return Monthly Payment scheme
Lets GST-registered businesses with turnover up to ₹5 crore file returns quarterly.
RBI : Reserve Bank of India
India's central bank. It makes the export regulations under FEMA, including the EDF. Learn more ↗
RCM : Reverse Charge Mechanism
When the buyer pays the GST instead of the seller, e.g. a GST-registered freelancer buying services from abroad.
SAC : Services Accounting Code
The 6-digit GST code for a service, e.g. 998314 for software development. Goes on export invoices and the EDF.
SOFTEX : Software Export declaration form
The old form for declaring software exports. Abolished from 1 October 2026 and folded into the EDF.
STPI : Software Technology Parks of India
A government body that can also receive the EDF for software exports, mainly from registered STPI units. Learn more ↗
SWIFT/BIC : SWIFT code / Bank Identifier Code
The international code of a bank, e.g. HDFCINBB, used for foreign wire transfers. Learn more ↗
WOPAY : Without payment (of IGST)
The GSTR-1 export type for exports under an LUT. WPAY is the type when IGST is paid.