My bank says service export receipts now need an Export Declaration Form (EDF). Is this new, what does it need, and do I need an IEC as a service exporter?
1 Answers
Under the revised FEMA export regulations (FEMA 23(R)/2026), banks began requiring an Export Declaration Form (EDF) for service export remittances from 1 October 2026. Your bank will ask for one per invoice or remittance before it treats the money as export proceeds.
What the form needs:
- Exporter details: name, address, PAN, GSTIN and IE Code (IEC).
- Invoice details: invoice number and date, amount and currency, and the service description (with SAC code).
- Buyer details: the overseas client's name and country, matching the remitter on the inward remittance.
- Contract details: agreement type and date.
- Receipt details: date of credit, amount received, any deductions, and the exchange rate (consistent with what you used in GSTR-1).
IEC for services: as far as I could find, it's not clearly mandatory for pure service exporters unless you claim trade benefits, but the EDF has a field for it. If you have one, quote it.
Common problems to avoid:
- Mismatches: the invoice version you file must be the one you sent the client, and the remitter name must match the invoiced client.
- Invoice wording: an export invoice under LUT should say so, and include the SAC code.
You can fill the form in your browser with Worthify's EDF generator, which keeps your data on your own device.
