{"id":1180,"date":"2026-08-04T17:34:36","date_gmt":"2026-08-04T12:04:36","guid":{"rendered":"https:\/\/blog.remitcircle.com\/?p=1180"},"modified":"2026-08-27T17:02:38","modified_gmt":"2026-08-27T11:32:38","slug":"p1006-advance-receipts-against-exports-goods","status":"publish","type":"post","link":"https:\/\/blog.remitcircle.com\/purpose-codes\/p1006-advance-receipts-against-exports-goods\/","title":{"rendered":"P0103 : Advance receipts against exports (goods)"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"1180\" class=\"elementor elementor-1180\">\n\t\t\t\t<div class=\"elementor-element elementor-element-7c37b45b e-flex e-con-boxed e-con e-parent\" data-id=\"7c37b45b\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-2456a17d elementor-widget elementor-widget-text-editor\" data-id=\"2456a17d\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h2 class=\"wp-block-heading \\\\\\&quot;wp-block-heading\\\\\\&quot;\"><strong>What is Purpose Code <strong>P0103<\/strong>?<\/strong><\/h2>\n<p><!-- \/wp:heading --><!-- wp:paragraph --><\/p>\n<p>P0103 is assigned when an Indian exporter receives payment from a foreign buyer before the goods have actually been shipped. This is called an advance payment or upfront payment arrangement \u2014 common in new trading relationships, custom manufacturing orders, or when the buyer has agreed to pre-pay as a condition of the deal.<\/p>\n<p><!-- \/wp:paragraph --><!-- wp:paragraph --><\/p>\n<p>It&#8217;s important to note that receiving funds under P0103 creates a FEMA obligation: the exporter must ship the goods (and realise the export) within the RBI-stipulated time period, or refund the advance. The purpose code flags this pre-shipment receipt so the banking system can track whether the corresponding export happens.<br \/><a href=\"\/category\/purpose-codes\/\" target=\"_blank\" rel=\"noreferrer noopener\" data-type=\"page\" data-id=\"351\">See all RBI purpose codes<\/a><\/p>\n<p><!-- \/wp:paragraph --><!-- wp:heading {\"className\":\"\\u005c\\u005c\\u005c\\u0022wp-block-heading\\u005c\\u005c\\u005c\\u0022\"} --><\/p>\n<h2 class=\"wp-block-heading \\\\\\&quot;wp-block-heading\\\\\\&quot;\"><strong>When to Use <strong>P0103<\/strong><\/strong><\/h2>\n<p><!-- \/wp:heading --><!-- wp:paragraph --><\/p>\n<p>Use P0103 when you receive money from an overseas buyer and no shipment has yet taken place. Common scenarios:<\/p>\n<p><!-- \/wp:paragraph --><!-- wp:list {\"className\":\"\\u005c\\u005c\\u005c\\u0022wp-block-list\\u005c\\u005c\\u005c\\u0022\"} --><\/p>\n<ul class=\"wp-block-list \\\\\\&quot;wp-block-list\\\\\\&quot;\">\n<li style=\"list-style-type: none;\">\n<ul class=\"wp-block-list \\\\\\&quot;wp-block-list\\\\\\&quot;\"><!-- wp:list-item --><\/ul>\n<\/li>\n<\/ul>\n<ul class=\"wp-block-list \\\\\\&quot;wp-block-list\\\\\\&quot;\">\n<li style=\"list-style-type: none;\">\n<ul class=\"wp-block-list \\\\\\&quot;wp-block-list\\\\\\&quot;\">\n<li>A manufacturer receives 30\u201350% advance from a foreign buyer before beginning production<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><!-- \/wp:list-item --><!-- wp:list-item --><\/p>\n<ul class=\"wp-block-list \\\\\\&quot;wp-block-list\\\\\\&quot;\">\n<li style=\"list-style-type: none;\">\n<ul class=\"wp-block-list \\\\\\&quot;wp-block-list\\\\\\&quot;\">\n<li>A custom goods exporter receives full upfront payment before manufacturing a bespoke order<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><!-- \/wp:list-item --><!-- wp:list-item --><\/p>\n<ul class=\"wp-block-list \\\\\\&quot;wp-block-list\\\\\\&quot;\">\n<li style=\"list-style-type: none;\">\n<ul class=\"wp-block-list \\\\\\&quot;wp-block-list\\\\\\&quot;\">\n<li>A trading company receives advance payment as part of a pro-forma invoice arrangement<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><!-- \/wp:list-item --><!-- wp:list-item --><\/p>\n<ul class=\"wp-block-list \\\\\\&quot;wp-block-list\\\\\\&quot;\">\n<li style=\"list-style-type: none;\">\n<ul class=\"wp-block-list \\\\\\&quot;wp-block-list\\\\\\&quot;\">\n<li>Any situation where the buyer wires money to India before the exporter raises the final shipping bill<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><!-- \/wp:list-item --><\/p>\n<p><!-- \/wp:list --><!-- wp:quote --><\/p>\n<blockquote class=\"wp-block-quote\">\n<p><!-- wp:paragraph --><\/p>\n<p><strong>Quick check:<\/strong> Has the shipment already happened? If yes, use P0101 or P0102. If the money arrived before you shipped anything, it&#8217;s P0103.<\/p>\n<p><!-- \/wp:paragraph --><\/p>\n<\/blockquote>\n<p><!-- \/wp:quote --><!-- wp:heading --><\/p>\n<h2 class=\"wp-block-heading\"><strong><strong><strong>Wrong Code? Use These Instead<\/strong><\/strong><\/strong><\/h2>\n<p><!-- \/wp:heading --><!-- wp:table --><\/p>\n<figure class=\"wp-block-table\">\n<table class=\"has-fixed-layout\">\n<thead>\n<tr>\n<th><strong>If your money is from\u2026<\/strong><\/th>\n<th><strong>Correct code to use<\/strong><\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>Payment received after shipment \u2014 bank negotiated bill<\/td>\n<td><strong><strong>P0101<\/strong><\/strong><\/td>\n<\/tr>\n<tr>\n<td>Payment received after shipment \u2014 buyer paid directly<\/td>\n<td><strong><strong>P0102<\/strong><\/strong><\/td>\n<\/tr>\n<tr>\n<td>Goods exported without a shipping bill (samples, gifts)<\/td>\n<td><strong><strong>P0104<\/strong><\/strong><\/td>\n<\/tr>\n<tr>\n<td>Realisation of overdue export bill<\/td>\n<td><strong><strong>P0107<\/strong><\/strong><\/td>\n<\/tr>\n<tr>\n<td>Service exports \u2014 advance from foreign client<\/td>\n<td><strong><strong>P0807 or applicable service code<\/strong><\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/figure>\n<p><!-- \/wp:table --><!-- wp:heading {\"className\":\"\\u005c\\u005c\\u005c\\u0022wp-block-heading\\u005c\\u005c\\u005c\\u0022\"} --><\/p>\n<h2 class=\"wp-block-heading \\\\\\&quot;wp-block-heading\\\\\\&quot;\"><strong><strong>Documents to Keep Ready<\/strong><\/strong><\/h2>\n<p><!-- \/wp:heading --><!-- wp:table --><\/p>\n<figure class=\"wp-block-table\">\n<table class=\"has-fixed-layout\">\n<thead>\n<tr>\n<th><strong>Document<\/strong><\/th>\n<th><strong>Why you need it<\/strong><\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td><strong><strong>Pro-forma invoice \/ purchase order<\/strong><\/strong><\/td>\n<td>Evidence of the export order that the advance relates to<\/td>\n<\/tr>\n<tr>\n<td><strong><strong>Sales contract \/ agreement<\/strong><\/strong><\/td>\n<td>Confirms the advance payment terms agreed with the buyer<\/td>\n<\/tr>\n<tr>\n<td><strong><strong>Bank credit advice \/ SWIFT confirmation<\/strong><\/strong><\/td>\n<td>Confirms receipt of the advance in your Indian account<\/td>\n<\/tr>\n<tr>\n<td><strong><strong>e-FIRA<\/strong><\/strong><\/td>\n<td>Official proof of inward remittance tagged P0103 \u2014 important for reconciling with later shipping documents<\/td>\n<\/tr>\n<tr>\n<td><strong>Subsequent shipping bill<\/strong><\/td>\n<td>Required once goods are shipped \u2014 links the advance to the actual export<\/td>\n<\/tr>\n<tr>\n<td><strong><strong>KYC \/ IEC documents<\/strong><\/strong><\/td>\n<td>Standard requirement \u2014 PAN, Importer-Exporter Code, business registration<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/figure>\n<p><!-- \/wp:table --><!-- wp:paragraph --><\/p>\n<p><!-- \/wp:paragraph --><!-- wp:heading {\"className\":\"\\u005c\\u005c\\u005c\\u0022wp-block-heading\\u005c\\u005c\\u005c\\u0022\"} --><\/p>\n<h2 class=\"wp-block-heading \\\\\\&quot;wp-block-heading\\\\\\&quot;\"><strong>What is an e-FIRA \u2014 and Why Does It Matter?<\/strong><\/h2>\n<p><!-- \/wp:heading --><!-- wp:paragraph --><\/p>\n<p>An e-FIRA (Electronic Foreign Inward Remittance Advice) is the official proof that foreign money entered India. It confirms the nature and purpose of the inflow, which matters for tax treatment, FEMA compliance, and audit trails.<\/p>\n<p><!-- \/wp:paragraph --><!-- wp:paragraph --><\/p>\n<p>Your bank generates it automatically once the funds land. You can usually download it from your internet banking portal or request it at your Forex desk. The e-FIRA will reflect the correct purpose code, which your CA or accounts team will reference during filings.<\/p>\n<p><!-- \/wp:paragraph --><!-- wp:quote --><\/p>\n<blockquote class=\"wp-block-quote\">\n<p><!-- wp:paragraph --><\/p>\n<p>\u00a0<strong>Did you know? <\/strong>Some banks take days to issue an e-FIRA. With Remit Circle, you can download yours instantly \u2014 at no charge \u2014 the moment your payment is credited. \u2192 Get your free e-FIRA via Remit Circle<\/p>\n<p><!-- \/wp:paragraph --><\/p>\n<\/blockquote>\n<p><!-- \/wp:quote --><!-- wp:paragraph --><\/p>\n<p><!-- \/wp:paragraph --><!-- wp:heading --><\/p>\n<h2 class=\"wp-block-heading\"><strong>Receive Inward Remittances Compliantly with Remit Circle<\/strong><\/h2>\n<p><!-- \/wp:heading --><!-- wp:paragraph --><\/p>\n<p>Getting the purpose code right on an inward remittance isn&#8217;t just a formality \u2014 a mismatch can cause payment holds, RBI queries, or incorrect tax treatment. Remit Circle is built to handle this for you.<\/p>\n<p><!-- \/wp:paragraph --><!-- wp:paragraph --><\/p>\n<p><strong>Instant e-FIRA \u2014 <\/strong>Download your Foreign Inward Remittance Advice the moment funds are credited. No waiting on the bank, no Forex desk visits. Free.<\/p>\n<p><!-- \/wp:paragraph --><!-- wp:paragraph --><\/p>\n<p><strong>Correct purpose code, every time \u2014 <\/strong>Remit Circle flags the right code for your transaction type before the payment is processed, so there are no mismatch holds at the bank.<\/p>\n<p><!-- \/wp:paragraph --><!-- wp:paragraph --><\/p>\n<p><strong>Multi-currency support \u2014 <\/strong>Receive in USD, EUR, GBP, AUD and more. Funds settle directly into your Indian bank account at competitive rates.<\/p>\n<p><!-- \/wp:paragraph --><!-- wp:paragraph --><\/p>\n<p><strong>Compliance-ready records \u2014 <\/strong>Every transaction comes with a clean audit trail \u2014 purpose code, amount, date, counterparty \u2014 so you and your CA are always on the same page.<\/p>\n<p><!-- \/wp:paragraph --><!-- wp:pullquote --><\/p>\n<figure class=\"wp-block-pullquote\">\n<blockquote>\n<p><strong>Start receiving international payments with Remit Circle<\/strong><\/p>\n<p><cite>Open a free account in minutes. No minimum balance, no hidden fees. Get your e-FIRA instantly on every inward remittance.<br \/><strong>\u00a0<a href=\"https:\/\/remitcircle.com\/authentication\/login\" target=\"_blank\" rel=\"noreferrer noopener\" data-type=\"link\" data-id=\"https:\/\/remitcircle.com\/authentication\/login\">Open your free Remit Circle account \u2192<\/a><\/strong><\/cite><\/p>\n<\/blockquote>\n<\/figure>\n<p><!-- \/wp:paragraph --><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-507ef05 e-con e-atomic-element e-flexbox-base e-84394b2 \" data-id=\"507ef05\" data-element_type=\"e-flexbox\" data-e-type=\"e-flexbox\" data-interaction-id=\"507ef05\">\n    <div class=\"elementor-element elementor-element-2b27c5d e-con e-atomic-element e-flexbox-base e-2b27c5d-71601dd \" data-id=\"2b27c5d\" data-element_type=\"e-flexbox\" data-e-type=\"e-flexbox\" data-interaction-id=\"2b27c5d\">\n    \t\t\t<h2 data-interaction-id=\"bb16535\" class=\"e-bb16535-d08609c e-heading-base\"><strong id=\"e-mser367n-mouqw3g\">Frequently Asked Questions<\/strong><br><\/h2>\n\t\t\t\t<div class=\"elementor-element elementor-element-9d80135 elementor-widget elementor-widget-n-accordion\" data-id=\"9d80135\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;n_accordion_animation_duration&quot;:{&quot;unit&quot;:&quot;ms&quot;,&quot;size&quot;:200,&quot;sizes&quot;:[]},&quot;default_state&quot;:&quot;expanded&quot;,&quot;max_items_expended&quot;:&quot;one&quot;}\" data-widget_type=\"nested-accordion.default\">\n\t\t\t\t\t\t\t<div class=\"e-n-accordion\" aria-label=\"Accordion. Open links with Enter or Space, close with Escape, and navigate with Arrow Keys\">\n\t\t\t\t\t\t<details id=\"e-n-accordion-item-1650\" class=\"e-n-accordion-item\" open>\n\t\t\t\t<summary class=\"e-n-accordion-item-title\" data-accordion-index=\"1\" tabindex=\"0\" aria-expanded=\"true\" aria-controls=\"e-n-accordion-item-1650\" >\n\t\t\t\t\t<span class='e-n-accordion-item-title-header'><div class=\"e-n-accordion-item-title-text\"> Q: What is RBI purpose code P0103? <\/div><\/span>\n\t\t\t\t\t\t\t<span class='e-n-accordion-item-title-icon'>\n\t\t\t<span class='e-opened' ><svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-minus\" viewBox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M416 208H32c-17.67 0-32 14.33-32 32v32c0 17.67 14.33 32 32 32h384c17.67 0 32-14.33 32-32v-32c0-17.67-14.33-32-32-32z\"><\/path><\/svg><\/span>\n\t\t\t<span class='e-closed'><svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-plus\" viewBox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M416 208H272V64c0-17.67-14.33-32-32-32h-32c-17.67 0-32 14.33-32 32v144H32c-17.67 0-32 14.33-32 32v32c0 17.67 14.33 32 32 32h144v144c0 17.67 14.33 32 32 32h32c17.67 0 32-14.33 32-32V304h144c17.67 0 32-14.33 32-32v-32c0-17.67-14.33-32-32-32z\"><\/path><\/svg><\/span>\n\t\t<\/span>\n\n\t\t\t\t\t\t<\/summary>\n\t\t\t\t<div role=\"region\" aria-labelledby=\"e-n-accordion-item-1650\" class=\"elementor-element elementor-element-b70f557 e-con-full e-flex e-con e-child\" data-id=\"b70f557\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<p class=\"e-paragraph-base\" data-interaction-id=\"c23dfc5\">P0103 is used when an Indian goods exporter receives advance payment from an overseas buyer before the goods have been shipped. It signals to the banking system that this is a pre-shipment receipt that must be matched with a future export.<\/p>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/details>\n\t\t\t\t\t\t<details id=\"e-n-accordion-item-1651\" class=\"e-n-accordion-item\" >\n\t\t\t\t<summary class=\"e-n-accordion-item-title\" data-accordion-index=\"2\" tabindex=\"-1\" aria-expanded=\"false\" aria-controls=\"e-n-accordion-item-1651\" >\n\t\t\t\t\t<span class='e-n-accordion-item-title-header'><div class=\"e-n-accordion-item-title-text\"> Q: What are the FEMA obligations after receiving funds under P0103? <\/div><\/span>\n\t\t\t\t\t\t\t<span class='e-n-accordion-item-title-icon'>\n\t\t\t<span class='e-opened' ><svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-minus\" viewBox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M416 208H32c-17.67 0-32 14.33-32 32v32c0 17.67 14.33 32 32 32h384c17.67 0 32-14.33 32-32v-32c0-17.67-14.33-32-32-32z\"><\/path><\/svg><\/span>\n\t\t\t<span class='e-closed'><svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-plus\" viewBox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M416 208H272V64c0-17.67-14.33-32-32-32h-32c-17.67 0-32 14.33-32 32v144H32c-17.67 0-32 14.33-32 32v32c0 17.67 14.33 32 32 32h144v144c0 17.67 14.33 32 32 32h32c17.67 0 32-14.33 32-32V304h144c17.67 0 32-14.33 32-32v-32c0-17.67-14.33-32-32-32z\"><\/path><\/svg><\/span>\n\t\t<\/span>\n\n\t\t\t\t\t\t<\/summary>\n\t\t\t\t<div role=\"region\" aria-labelledby=\"e-n-accordion-item-1651\" class=\"elementor-element elementor-element-cbfb2fb e-con-full e-flex e-con e-child\" data-id=\"cbfb2fb\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<p class=\"e-paragraph-base\" data-interaction-id=\"37627a1\">Once you receive an advance under P0103, you must ship the goods and realise the export within the RBI-prescribed period (typically 1 year from the date of receipt of advance). If you are unable to export, you must refund the advance to the foreign buyer within the permitted timeframe.<\/p>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/details>\n\t\t\t\t\t\t<details id=\"e-n-accordion-item-1652\" class=\"e-n-accordion-item\" >\n\t\t\t\t<summary class=\"e-n-accordion-item-title\" data-accordion-index=\"3\" tabindex=\"-1\" aria-expanded=\"false\" aria-controls=\"e-n-accordion-item-1652\" >\n\t\t\t\t\t<span class='e-n-accordion-item-title-header'><div class=\"e-n-accordion-item-title-text\"> Q: Do I need to report P0103 receipts separately to the RBI? <\/div><\/span>\n\t\t\t\t\t\t\t<span class='e-n-accordion-item-title-icon'>\n\t\t\t<span class='e-opened' ><svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-minus\" viewBox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M416 208H32c-17.67 0-32 14.33-32 32v32c0 17.67 14.33 32 32 32h384c17.67 0 32-14.33 32-32v-32c0-17.67-14.33-32-32-32z\"><\/path><\/svg><\/span>\n\t\t\t<span class='e-closed'><svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-plus\" viewBox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M416 208H272V64c0-17.67-14.33-32-32-32h-32c-17.67 0-32 14.33-32 32v144H32c-17.67 0-32 14.33-32 32v32c0 17.67 14.33 32 32 32h144v144c0 17.67 14.33 32 32 32h32c17.67 0 32-14.33 32-32V304h144c17.67 0 32-14.33 32-32v-32c0-17.67-14.33-32-32-32z\"><\/path><\/svg><\/span>\n\t\t<\/span>\n\n\t\t\t\t\t\t<\/summary>\n\t\t\t\t<div role=\"region\" aria-labelledby=\"e-n-accordion-item-1652\" class=\"elementor-element elementor-element-8e97813 e-con-full e-flex e-con e-child\" data-id=\"8e97813\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<p class=\"e-paragraph-base\" data-interaction-id=\"4df4ca9\">Your AD bank handles the RBI reporting as part of Balance of Payments (BoP) submissions. However, you should maintain proper documentation \u2014 pro-forma invoice, purchase order, and subsequent shipping bill \u2014 so your bank can reconcile the advance with the eventual export.<\/p>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/details>\n\t\t\t\t\t\t<details id=\"e-n-accordion-item-1653\" class=\"e-n-accordion-item\" >\n\t\t\t\t<summary class=\"e-n-accordion-item-title\" data-accordion-index=\"4\" tabindex=\"-1\" aria-expanded=\"false\" aria-controls=\"e-n-accordion-item-1653\" >\n\t\t\t\t\t<span class='e-n-accordion-item-title-header'><div class=\"e-n-accordion-item-title-text\"> Q: What happens if I receive an advance but cannot ship within the time limit? <\/div><\/span>\n\t\t\t\t\t\t\t<span class='e-n-accordion-item-title-icon'>\n\t\t\t<span class='e-opened' ><svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-minus\" viewBox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M416 208H32c-17.67 0-32 14.33-32 32v32c0 17.67 14.33 32 32 32h384c17.67 0 32-14.33 32-32v-32c0-17.67-14.33-32-32-32z\"><\/path><\/svg><\/span>\n\t\t\t<span class='e-closed'><svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-plus\" viewBox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M416 208H272V64c0-17.67-14.33-32-32-32h-32c-17.67 0-32 14.33-32 32v144H32c-17.67 0-32 14.33-32 32v32c0 17.67 14.33 32 32 32h144v144c0 17.67 14.33 32 32 32h32c17.67 0 32-14.33 32-32V304h144c17.67 0 32-14.33 32-32v-32c0-17.67-14.33-32-32-32z\"><\/path><\/svg><\/span>\n\t\t<\/span>\n\n\t\t\t\t\t\t<\/summary>\n\t\t\t\t<div role=\"region\" aria-labelledby=\"e-n-accordion-item-1653\" class=\"elementor-element elementor-element-1b710ff e-flex e-con-boxed e-con e-child\" data-id=\"1b710ff\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t\t<p class=\"e-paragraph-base\" data-interaction-id=\"39f4fc3\">You must apply to your AD bank for an extension before the deadline, or arrange to refund the advance to the foreign buyer. Unreconciled advances can attract FEMA non-compliance notices. Your bank\u2019s trade finance desk can guide you on the extension process.<\/p>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/details>\n\t\t\t\t\t\t<details id=\"e-n-accordion-item-1654\" class=\"e-n-accordion-item\" >\n\t\t\t\t<summary class=\"e-n-accordion-item-title\" data-accordion-index=\"5\" tabindex=\"-1\" aria-expanded=\"false\" aria-controls=\"e-n-accordion-item-1654\" >\n\t\t\t\t\t<span class='e-n-accordion-item-title-header'><div class=\"e-n-accordion-item-title-text\"> Q: Can I use P0103 for advances received for service exports? <\/div><\/span>\n\t\t\t\t\t\t\t<span class='e-n-accordion-item-title-icon'>\n\t\t\t<span class='e-opened' ><svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-minus\" viewBox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M416 208H32c-17.67 0-32 14.33-32 32v32c0 17.67 14.33 32 32 32h384c17.67 0 32-14.33 32-32v-32c0-17.67-14.33-32-32-32z\"><\/path><\/svg><\/span>\n\t\t\t<span class='e-closed'><svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-plus\" viewBox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M416 208H272V64c0-17.67-14.33-32-32-32h-32c-17.67 0-32 14.33-32 32v144H32c-17.67 0-32 14.33-32 32v32c0 17.67 14.33 32 32 32h144v144c0 17.67 14.33 32 32 32h32c17.67 0 32-14.33 32-32V304h144c17.67 0 32-14.33 32-32v-32c0-17.67-14.33-32-32-32z\"><\/path><\/svg><\/span>\n\t\t<\/span>\n\n\t\t\t\t\t\t<\/summary>\n\t\t\t\t<div role=\"region\" aria-labelledby=\"e-n-accordion-item-1654\" class=\"elementor-element elementor-element-280209f e-flex e-con-boxed e-con e-child\" data-id=\"280209f\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t\t<p class=\"e-paragraph-base\" data-interaction-id=\"7fa830e\">No. P0103 is strictly for goods (merchandise) exports. Advance receipts for services such as software development, consulting, or design work should be classified under the relevant service code (e.g., P0807 for IT\/software services).<\/p>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/details>\n\t\t\t\t\t\t<details id=\"e-n-accordion-item-1655\" class=\"e-n-accordion-item\" >\n\t\t\t\t<summary class=\"e-n-accordion-item-title\" data-accordion-index=\"6\" tabindex=\"-1\" aria-expanded=\"false\" aria-controls=\"e-n-accordion-item-1655\" >\n\t\t\t\t\t<span class='e-n-accordion-item-title-header'><div class=\"e-n-accordion-item-title-text\"> Q: Is GST applicable on advance receipts under P0103? <\/div><\/span>\n\t\t\t\t\t\t\t<span class='e-n-accordion-item-title-icon'>\n\t\t\t<span class='e-opened' ><svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-minus\" viewBox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M416 208H32c-17.67 0-32 14.33-32 32v32c0 17.67 14.33 32 32 32h384c17.67 0 32-14.33 32-32v-32c0-17.67-14.33-32-32-32z\"><\/path><\/svg><\/span>\n\t\t\t<span class='e-closed'><svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-plus\" viewBox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M416 208H272V64c0-17.67-14.33-32-32-32h-32c-17.67 0-32 14.33-32 32v144H32c-17.67 0-32 14.33-32 32v32c0 17.67 14.33 32 32 32h144v144c0 17.67 14.33 32 32 32h32c17.67 0 32-14.33 32-32V304h144c17.67 0 32-14.33 32-32v-32c0-17.67-14.33-32-32-32z\"><\/path><\/svg><\/span>\n\t\t<\/span>\n\n\t\t\t\t\t\t<\/summary>\n\t\t\t\t<div role=\"region\" aria-labelledby=\"e-n-accordion-item-1655\" class=\"elementor-element elementor-element-5779498 e-flex e-con-boxed e-con e-child\" data-id=\"5779498\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t\t<p class=\"e-paragraph-base\" data-interaction-id=\"53b9dbd\">Exports are zero-rated under GST, so the underlying export transaction is typically not subject to GST. However, the advance receipt itself needs to be accounted for as per GST rules at the time of the supply. Consult your CA for transaction-specific guidance.<\/p>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/details>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\n<\/div>\n\n<\/div>\n\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"You received payment from an overseas buyer before you have shipped the goods.\nIndian goods exporters who collect upfront \/ advance payment from foreign buyers prior to shipment\nInward remittance (money coming into India)","protected":false},"author":260895651,"featured_media":1178,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_wpcom_ai_launchpad_first_post":false,"csco_display_header_overlay":false,"csco_singular_sidebar":"","csco_page_header_type":"","csco_page_load_nextpost":"","csco_page_reading_time":"","csco_page_toc_navigation":"","csco_post_video_location":[],"csco_post_video_location_hash":"","csco_post_video_url":"","csco_post_video_bg_start_time":0,"csco_post_video_bg_end_time":0,"csco_post_video_bg_volume":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[1384],"tags":[],"class_list":["post-1180","post","type-post","status-publish","format-standard","has-post-thumbnail","category-purpose-codes","cs-entry","cs-video-wrap"],"jetpack_publicize_connections":[],"jetpack_likes_enabled":true,"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/phhXOC-j2","jetpack-related-posts":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/blog.remitcircle.com\/wp-content\/uploads\/2026\/08\/P1003.png?fit=1200%2C800&ssl=1","_links":{"self":[{"href":"https:\/\/blog.remitcircle.com\/wp-json\/wp\/v2\/posts\/1180","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.remitcircle.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.remitcircle.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.remitcircle.com\/wp-json\/wp\/v2\/users\/260895651"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.remitcircle.com\/wp-json\/wp\/v2\/comments?post=1180"}],"version-history":[{"count":23,"href":"https:\/\/blog.remitcircle.com\/wp-json\/wp\/v2\/posts\/1180\/revisions"}],"predecessor-version":[{"id":2017,"href":"https:\/\/blog.remitcircle.com\/wp-json\/wp\/v2\/posts\/1180\/revisions\/2017"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.remitcircle.com\/wp-json\/wp\/v2\/media\/1178"}],"wp:attachment":[{"href":"https:\/\/blog.remitcircle.com\/wp-json\/wp\/v2\/media?parent=1180"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.remitcircle.com\/wp-json\/wp\/v2\/categories?post=1180"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.remitcircle.com\/wp-json\/wp\/v2\/tags?post=1180"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}