Accounts Receivable | Export Invoicing & SEZ

Export invoices done right. LUT, FIRC, BRC, IGST refund and SEZ supplies handled.

LUT (Letter of Undertaking) bond verified at the customer master. Export invoices in foreign currency with INR equivalents. FIRC and BRC metadata captured at receipt. IGST paid on exports tracked for refund (RFD-01). SEZ supplies handled separately. Form A1 / A2 for software exports drafted.

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How it works

From export invoice to IGST refund.

Step 01

LUT verified at customer master

Export customers tagged with LUT or non-LUT. LUT validity tracked; expiry alerts before invoicing. Non-LUT exporters pay IGST and claim refund later.

Step 02

Invoice in foreign currency

Export invoice in USD, EUR, GBP or any currency. INR equivalent computed at the RBI reference rate or your treasury rate. Place of supply applied per Section 13(2).

Step 03

FIRC + BRC at receipt

Foreign Inward Remittance Certificate (FIRC) and Bank Realisation Certificate (BRC) metadata captured at receipt. Reconciled against export invoice for FEMA reporting.

Step 04

IGST refund tracking

For non-LUT exports where IGST is paid, the refund (Form RFD-01) drafts automatically. Refund status tracked from filing to disbursement.

Step 05

SEZ supplies separated

SEZ supplies are zero-rated but tracked separately from regular exports. Form A1 / A2 metadata drafted for software / service exports.

What the system does

Capability, input, output.

Capability	Input	Output
LUT verification	Customer master + LUT validity	LUT or non-LUT classification
Multi-currency invoice	Foreign currency + RBI rate	INR equivalent invoice
FIRC + BRC capture	Bank receipt advice	FIRC / BRC linked to invoice
IGST refund (RFD-01)	Non-LUT exports + IGST paid	Refund draft for RFD-01
SEZ supply tracking	SEZ customer + supply	Zero-rated, separately tracked
Form A1 / A2	Software / service export	Form A1 / A2 metadata drafted

LUT verification

Input

Customer master + LUT validity

Output

LUT or non-LUT classification
Multi-currency invoice

Input

Foreign currency + RBI rate

Output

INR equivalent invoice
FIRC + BRC capture

Input

Bank receipt advice

Output

FIRC / BRC linked to invoice
IGST refund (RFD-01)

Input

Non-LUT exports + IGST paid

Output

Refund draft for RFD-01
SEZ supply tracking

Input

SEZ customer + supply

Output

Zero-rated, separately tracked
Form A1 / A2

Input

Software / service export

Output

Form A1 / A2 metadata drafted

Compliance + integrations

Export compliance, end to end.

GST, FEMA, customs and Income Tax all touch export invoices. The system handles the GST and FEMA pieces; integrations handle bank realisation; the audit trail captures the chain.

Regulations we work within

Section 16, IGST Act (Zero Rating)

Exports zero-rated; LUT or IGST refund path applied.
Rule 96 (RFD-01)

IGST refund procedure for non-LUT exports.
Section 13(2), IGST Act

Place of supply for export of services.
FEMA

FIRC and BRC reporting per FEMA.
SEZ Act, Section 26

SEZ supply zero-rating.

Connects to

GSTN (RFD-01) Refund filing API
Bank FIRC / BRC Auto-capture from bank advice
AD Banker integration A1 / A2 form drafting

Export Invoicing & SEZ FAQ

What buyers ask.

LUT vs IGST. Which path is better for our exports?

LUT (no IGST paid, no refund needed) is the operationally simpler path for regular exporters. IGST-with-refund is the path for first-time or irregular exporters who can't commit to a year-long LUT. The system supports both paths and tracks the refund where applicable.

FIRC vs BRC. Which one matters for what?

FIRC (Foreign Inward Remittance Certificate) is issued by the bank when the export receipt lands. BRC (Bank Realisation Certificate) is issued by the AD bank confirming the export realisation against an invoice. FIRC is for one receipt; BRC links to one or more invoices. Both captured at receipt.

IGST refund (RFD-01). How long does it take?

GSTN typically processes RFD-01 in 60-90 days. The system drafts the application, files via API, and tracks the status from acknowledgement to disbursement. Notices and queries from the GSTN are surfaced for response.

SEZ supplies vs regular exports. What's the difference?

SEZ supplies (to a unit in a Special Economic Zone) are zero-rated under Section 26 of the SEZ Act, but the supply is to a domestic SEZ unit, not a foreign customer. The GST treatment is the same as exports (LUT or IGST refund), but the bank receipt is in INR and the customer is Indian.

Related features

Raise your next export invoice with LUT, FIRC and refund tracking.

Connect one entity, free. Tag your export customers with LUT status. The next export invoice carries the right GST treatment, the FIRC links on receipt, the IGST refund drafts where applicable.