FIRC
Foreign Inward Remittance Certificate
An FIRC is the certificate an authorised dealer bank issues confirming that a specific sum of foreign currency was received from abroad, and it is the primary proof of realisation for an export.
When money arrives from an overseas customer, the bank credits your account and can issue a certificate stating the amount, the currency, the sender and the purpose. That certificate is what you produce to show an export was actually paid for.
For most current transactions banks now issue an electronic advice rather than the older physical FIRC, and for many purposes an e-FIRC or an advice letter serves the same evidentiary role. What matters is that the remittance is identifiable and linked to the right export.
The linking is the difficult part in practice. A single remittance frequently settles several invoices across several shipping bills, sometimes partially, and the allocation has to be recorded somewhere that will still make sense when a bank queries it eighteen months later.
Key facts
- Issued by the authorised dealer bank that received the remittance.
- States amount, currency, remitter and purpose code.
- Used as evidence of realisation for EDPMS closure and for export incentive claims.
- Electronic advices have largely replaced physical FIRCs for current-account transactions.
- One FIRC can be allocated across several shipping bills or invoices.
Who this affects
Exporters of goods and services, and anyone claiming export incentives.
How YarnTally handles it
FIRC entries can be split across multiple EDPMS bills, with a trigger recomputing the unallocated balance so a partially applied remittance cannot silently drift.
See what else it doesReviewed September 2026. This is general information about how these rules work, not tax or legal advice, and thresholds and due dates do change. Check your own position with your chartered accountant before acting on it.