Quick answer: A FIRC, or foreign inward remittance certificate, is the document an authorised dealer (AD Category-I) bank issues to confirm that foreign money reached an Indian account. It shows the remitter, amount, currency and purpose. Physical FIRCs now mainly back capital inflows such as FDI. Export receipts get an electronic advice, the e-FIRA, in the RBI’s EDPMS system.
- Only the AD bank that received the money can issue the FIRC or e-FIRA for it.
- Banks stopped issuing physical FIRCs for export receipts after RBI Circular No. 74 of 26 May 2016.
- An e-BRC is generated by the exporter on the DGFT portal, not by the bank.
- Service export proceeds must be realised within 9 months of invoice from 1 October 2026, or 12 if invoiced in rupees.
FIRC, e-FIRA or e-BRC: which one do you need?
It depends on why the money came in.
| Document | Issued by | Typical use |
|---|---|---|
| FIRC | AD bank that received the funds | Share capital and other capital inflows, FC-GPR filing |
| e-FIRA (eFIRC) | AD bank, linked to an inward remittance entry in EDPMS | Payments for exported services |
| e-BRC | Exporter, self-certified on the DGFT portal against the bank’s entry | Export incentives and GST refund support |
The mix-up is common. Founders ask the bank for “a FIRC” for a client payment and get an e-FIRA instead, which is exactly what the rules now expect for export receipts. Fine. Since January 2026, DGFT’s revised format for e-BRCs also captures the GSTIN, the GST invoice number and date, and a QR code. Every field must match the invoice.
Why does a FIRC matter for FDI and GST?
Two reasons.
On the FDI side, the Indian company reports a share allotment to the RBI on FC-GPR within 30 days. The filing needs the FIRC or bank evidence of the inflow, plus a KYC report from the same bank that received the money. A mismatch between the FIRC amount, the share price and the valuation certificate is a common reason the RBI returns the form.
On the GST side, an export of services is zero-rated only if payment arrives in convertible foreign exchange. That is one of the five tests behind GST on EOR services. Your e-FIRA or e-BRC is the realisation proof attached to refund claims.
The clock is tighter now. Under the RBI’s FEMA export regulations, 2026, service proceeds must be realised within 9 months of the invoice date. So a client who pays late is a FEMA problem as well as a cash problem.
Who holds the FIRC when you hire through an EOR?
The EOR does.
Suppose your US company pays an Indian EOR USD 6,000 for one month’s invoice. The money lands in the EOR’s Indian bank account, so the e-FIRA is issued in the EOR’s name. It supports the EOR’s export and GST records, not yours. You need only your wire confirmation.
Paying an Indian freelancer directly works the same way, with the freelancer’s own bank issuing the advice once your payment lands in their account. Our guide on how to pay contractors covers the payment options.
How does Remunance handle inward remittances for your team?
Your monthly payment reaches Remunance Services Pvt Ltd in Pune, and our team reconciles it against the invoice and the realisation records. You get onboarding in as little as 2 working days from a signed contract, with no Indian bank account or FIRC paperwork on your side. If you plan an Indian entity later, our India subsidiary formation service covers the capital inflow and its reporting. Ask for a costed India hiring plan to see the full flow.
What else do people ask about FIRC?
Is a FIRC mandatory for export of services?
Not in physical form. Banks now issue an e-FIRA for export receipts, and that, or an e-BRC, serves as proof of realisation.
How do I get a FIRC from my bank?
Ask the receiving AD bank. Most banks issue it through net banking or the trade desk on request.
What is the difference between FIRC and BRC?
The bank issues the FIRC or e-FIRA to confirm money arrived. The exporter generates the e-BRC on the DGFT portal to link that receipt to a specific export invoice.