Topic
Trade and foreign exchange
Customs, excise, FEMA and the rules that apply when goods or money cross a border.
Glossary
The terms you will meet.
Trade and foreign exchange Anti-Money Laundering (AML) Regulations and processes to detect, prevent, and report money laundering activities in the financial system. Also called anti money laundering, PMLA compliance Trade and foreign exchange Benami Transaction A transaction where property is held under a fictitious or proxy name, prohibited and punishable under Indian law. Also called benami property transaction Trade and foreign exchange Central Excise A tax on the manufacture of goods within India, levied by the central government and largely subsumed by GST in 2017. Also called central excise duty Trade and foreign exchange Customs Duty A tax levied on goods imported into or exported from India, administered by the Central Board of Indirect Taxes and Customs. Also called import duty Trade and foreign exchange Directorate of Enforcement (ED) India's financial investigation agency responsible for enforcing FEMA and PMLA, investigating economic crimes and money laundering. Also called Enforcement Directorate Trade and foreign exchange Excise Duty An indirect tax on the manufacture or production of goods within a country, distinct from customs duty on imports. Also called excise tax, excise Trade and foreign exchange Export Promotion Government schemes and incentives designed to boost India's exports and support exporters in accessing international markets. Also called export incentives, export promotion schemes Trade and foreign exchange FATF Compliance Adherence to the Financial Action Task Force standards for combating money laundering, terrorist financing, and proliferation financing. Also called Financial Action Task Force compliance, FATF recommendations Trade and foreign exchange FCRA (Foreign Contribution Regulation Act) India's law regulating the acceptance and utilization of foreign contributions by NGOs, associations, and individuals. Also called Foreign Contribution (Regulation) Act, FCRA 2010 Trade and foreign exchange FDI Policy India's regulatory framework governing the entry, routes, sectoral limits, and conditions for Foreign Direct Investment. Also called foreign direct investment policy, FDI rules, consolidated FDI policy Trade and foreign exchange FEMA (Foreign Exchange Management Act) India's primary legislation governing foreign exchange transactions, cross-border investments, and external trade payments. Also called FEMA 1999, foreign exchange regulations Trade and foreign exchange Foreign Contribution Money, articles, or securities received from foreign sources by Indian individuals, associations, or companies, regulated under FCRA. Also called foreign donation, foreign funding Trade and foreign exchange Legal Entity Identifier (LEI) A unique 20-character alphanumeric code that identifies legal entities participating in financial transactions globally. Also called LEI code, LEI number Trade and foreign exchange Letter of Credit (LC) A bank-backed guarantee that a seller will get paid - the backbone of international trade when buyer and seller don't know each other. Also called documentary credit, L/C Payments and banking Nostro Account An Indian bank's foreign currency account held abroad - the hidden infrastructure behind every cross-border payment. Also called nostro, foreign currency correspondent account Payments and banking Remittance Money sent across borders - whether it's an NRI supporting family, a business paying an overseas supplier, or a student's tuition transfer. Also called outward remittance, inward remittance, foreign remittance Payments and banking SWIFT Code The 8 or 11-character address that tells the global banking network exactly which bank and branch to route your international payment to. Also called BIC code, SWIFT BIC, bank identifier code Payments and banking Wire Transfer Electronic money movement between banks - domestically via NEFT/RTGS, internationally via SWIFT - the workhorse of business payments. Also called bank wire, telegraphic transfer, TT
See it in the product
Trade and foreign exchange, in the product.
Tax & ComplianceGST ComplianceGSTR-2B reconciliation nightly. GSTR-1, 3B, 9, 9C drafted from your books. ITC eligibility tracked. Multi-state, multi-GSTIN, multi-country.Financial OperationsAccounts ReceivableQuote to cash on one record. Customers, GST invoices with IRN/QR/EWB, receipts, aging, payment follow-ups across email and WhatsApp.Accounts ReceivableExport Invoicing & SEZLUT, FIRC, BRC, Form A1/A2 metadata; IGST refund tracking; multi-currency.GST ComplianceMulti-Country TaxUAE VAT, UK MTD VAT, Singapore GST, US sales tax, EU VAT/OSS, one platform across jurisdictions.Accounting SoftwareMulti-Currency BooksFunctional, transaction, reporting currency. FX revaluation at period end. Realised/unrealised gain-loss posted.