Export of Services: Your ₹10 Lakh EDF Rule Explained
RBI has eased paperwork for trade in services. If you are an individual earning from clients abroad, telling your bank about the payment now counts as submitting the EDF. Firms and other non-individuals get this only up to ₹10 lakh per remittance.
Need a loan? See what RBI-registered lenders offer you
No app download · Zero CIBIL impact
Resident individuals earning from clients abroad, firms exporting services, and importers of services, especially non-individuals dealing in amounts above ₹10 lakh.
Firms get the EDF shortcut only up to this payment; individuals face no cap.
Key Takeaways
Check whether you receive foreign payments as a resident individual or through a firm, because the rule treats the two differently.
Give your bank the payment details for the service you exported when the money is credited. For individuals, that now counts as the EDF.
Ask your bank how the ₹10 lakh limit applies to your remittance if you receive foreign payments through a firm rather than as an individual.
RBI has eased paperwork for trade in services. If you are an individual earning from clients abroad, telling your bank about the payment now counts as submitting the EDF. Firms and other non-individuals get this only up to ₹10 lakh per remittance.
Here's what happened: RBI amended its rules for exporting and importing goods and services on November 2, 2026. The changes apply from October 1, 2026. Resident individuals who export services are treated as having submitted the EDF once they give payment details to the bank crediting their account. Non-individual exporters get the same treatment only if the inward remittance is ₹10 lakh or less. Import-of-service entries in IDPMS now cover only non-individual importers with values above ₹10 lakh.
What you should do: Check whether you receive foreign payments as a resident individual or through a firm, because the rule treats the two differently. Give your bank the payment details for the service you exported when the money is credited. For individuals, that now counts as the EDF. Ask your bank how the ₹10 lakh limit applies to your remittance if you receive foreign payments through a firm rather than as an individual.
Pro tip: The ₹10 lakh test for exporters looks at the inward remittance, and for importers at the invoice or contract value. Foreign-currency equivalents count too.
Written by GoCredit from the official Reserve Bank of India document cited below. Every figure is checked against that document. This is general information, not legal or financial advice.
If this affects your borrowing choices, compare current personal loan options from 100+ lenders on GoCredit.
Questions people ask
Do freelancers need to file a separate EDF for foreign client payments?
If you are a resident individual exporting services, you are treated as having submitted the EDF once you give your bank the payment details needed to credit your account. The document sets no value limit for individuals.
What is the ₹10 lakh limit in the new RBI export rule?
For exporters of services who are not resident individuals, the EDF is treated as submitted when they give payment details to the bank, provided the inward remittance is ₹10 lakh or less, or the foreign-currency equivalent.
From when do the amended RBI export-import rules apply?
The amendment was notified on November 2, 2026 and comes into force from October 1, 2026. It changes the rules on exporting services and on recording imports of services.
See the loan offers you qualify for
GoCredit's AI matches you with lenders most likely to approve YOUR profile. No app download, zero CIBIL impact.
Get Money →Facing recovery harassment from a lender?
Loan Kavach's legal team intervenes within 24h, files RBI complaints, and shields you from unlawful recovery practices — available in the GoCredit app.
References
- [1]“Foreign Exchange Management (Export and Import of Goods and Services) (Second Amendment) Regulations, 2026” Reserve Bank of India · 3 Nov 2026
Official source. GoCredit wrote this explainer from the document above, and every figure in it is checked against that document automatically. The worked example is calculated by GoCredit. How we write news
Every story here posts to X the moment it breaks. Follow @gocredit_news →