The International Financial Services Centres Authority (IFSCA), on November 13, 2026, clarified the applicability of the Export Declaration Form (EDF) requirement under the Foreign Exchange Management (Export and Import of Goods and Services) Regulations, 2026, notified by the Reserve Bank of India (RBI) vide Notification No. FEMA 23(R)/2026-RB dated January 13, 2026, effective October 1, 2026. Regulation 3(2) requires exporters of services to furnish an EDF specifying the full export value within 30 days from the end of the month in which the invoice is raised.
Based on the clarification received from the RBI, IFSCA has confirmed that EDF filing is not applicable to exports of services, including software services, by IFSC Units to Persons Resident Outside India (PROIs).
The Public Notice has been issued with the approval of the Administrator, IFSCA. Accordingly, IFSC Units exporting services to PROIs are not required to file EDF for such transactions.
[Public Notice No. 08/2026-27]
