PayPal, Wise or Payoneer: What GST and FIRC Mean for Design Agencies Getting Paid by International Clients

Platforms named in the question are shown alongside the 2 highest payouts among the platforms this site covers, ranked by the INR received on a $5,000 invoice. Fees were checked on 30 Sept 2026.

A design agency billing a foreign client is an exporter of services under both FEMA and GST. From October 01, 2026 the FEMA (Export and Import of Goods and Services) Regulations, 2026 govern the declaration, realisation and closure of each export, and they define software to include any drawing or design on a non-physical medium. For GST, section 2(6) of the IGST Act sets five conditions for an export of services and section 16 makes it zero rated. The same rules apply whichever platform or bank receives the money.

No RBI purpose code is named for design, so the code depends on what the agency delivers. The RBI receipt purpose code list offers P1009 for technical services, P1006 for consultancy and P0802 for software implementation or consultancy, and digital design can count as software under Regulation 2(1)(e). DGFT's e-BRC guidelines accept only P0802, P0803, P0807 and P0103 for IT services. Agree the code with the AD bank or platform before the first receipt.

Each row applies the platform's published fee, FX markup and 18% GST on the fee to the XE mid-market rate for 3 Nov 2026. Platforms without full published pricing are not included.

For example, on a $2,000 invoice Skydo pays about ₹1,87,213 and PayPal about ₹1,74,042 at today's reference rate, a difference of ₹13,171.

Each foreign payment to a design agency is backed by an export invoice, a FIRC or FIRA from the receiving bank or provider, an EDF and, for GST-registered agencies, an LUT. An e-BRC can be generated on DGFT under the self-certified e-BRC guidelines. From October 01, 2026 the EDF under Regulation 3(2) covers services and software, after Circular No. 20 superseded the earlier export circulars, including those on SOFTEX forms.

In 2026 design agencies move to a new FEMA export framework, a nine-month realisation period and a new income tax law. The FEMA Regulations 2026 took effect on October 01, 2026, and the September 2026 amendment set realisation at nine months. The GST rules on LUT and zero rating continue as before.

• EDF: Services and software exports are declared on an EDF within 30 days of the invoice month end under Regulation 3(2), and Circular No. 20 superseded the SOFTEX circulars from October 01, 2026.
• Nine months: The amendment notification FEMA 23(R)/(1)/2026-RB replaced fifteen months with nine months for realisation, and eighteen with twelve months for INR invoices.
• Income tax: The Income-tax Act, 2025 replaced the 1961 Act from April 01, 2026. Its FAQ 25 says the presumptive schemes, including sections 44AD and 44ADA, are consolidated in section 58.
• Faster credit: RBI asked banks in an April 09, 2026 circular to endeavour to credit inward payments received in forex market hours on the same business day, effective six months from that date.

Every rule is linked to its official source below with the date it was checked. Platform figures come from each platform's own pages; the full method is on the methodology page.

1. RBI, Foreign Exchange Management (Export and Import of Goods and Services) Regulations, 2026 (FEMA 23(R)/2026-RB, amended up to September 22, 2026), Regulations 1(2), 2(1)(e), 3(2), 4(2), 5(1) and 13 (checked 6 Oct 2026)
2. RBI, FEMA (Export and Import of Goods and Services) (Amendment) Regulations, 2026 (FEMA 23(R)/(1)/2026-RB), Nine and twelve months in Regulation 5(1) (checked 6 Oct 2026)
3. RBI, A.P. (DIR Series) Circular No. 20 dated January 16, 2026, Export and Import of Goods and Services, Annex list of superseded circulars, including SOFTEX circulars (checked 6 Oct 2026)
4. RBI A.P. (DIR Series) Circular No. 84 (2012), FETERS purpose codes for receipts, Receipt codes P0802, P1006, P1007, P1009, P1099 (checked 6 Oct 2026)
5. RBI, A.P. (DIR Series) Circular No. 84 dated February 29, 2012, Reporting under FETERS, Revised purpose code list (checked 6 Oct 2026)
6. IGST Act, 2017, Section 2 (Definitions), Section 2(6), export of services (checked 6 Oct 2026)
7. IGST Act, 2017, Section 13 (Place of supply where supplier or recipient is outside India), Section 13(2) (checked 6 Oct 2026)
8. IGST Act, 2017, Section 16 (Zero rated supply), Section 16(1) and 16(3) (checked 6 Oct 2026)
9. CGST Rules, 2017, Rule 96A (Export under bond or Letter of Undertaking), Rule 96A(1)(b) (checked 6 Oct 2026)
10. GST Portal user manual, Furnishing of Letter of Undertaking (FORM GST RFD-11), Services > User Services > Furnish Letter of Undertaking (LUT) (checked 6 Oct 2026)
11. DGFT, Self-Certified eBRC Generation Guidelines, Version 1.0 (10 November 2023), Rules 1, 2 and 10 (checked 6 Oct 2026)
12. Income Tax Department, Objective and scope of the New Act (Income-tax Act, 2025 FAQs), FAQ 2 (1961 Act repealed on 01.04.2026); FAQ 25 (section 58) (checked 6 Oct 2026)
13. RBI, Guidelines to facilitate faster cross-border inward payments (April 09, 2026), Paragraphs 3 and 4 (checked 6 Oct 2026)
14. Skydo homepage (pricing and fee calculator), Know what you pay; calculator showing GST 18% of transaction fee (checked 6 Oct 2026)
15. Razorpay MoneySaver Export Account (International Bank Transfers) pricing, Standard Plan: 0% FX markup, 1% fee, FlashLinks 2%, GST applicable, flat fee of INR 1,000 on transactions below INR 1,00,000, setup and AMC INR 0 (checked 6 Oct 2026)
16. Wise India: Fees for receiving money (Business), Conversion fee depends on the currency; eFIRC for every transfer; GST 18% of (conversion fee + eFIRC fee); calculator (checked 6 Oct 2026)
17. PayPal India Merchant Fees, Receiving international transactions; Currency Conversions (3.0% converting balance and payments received; 4.00% all other cases); Withdrawals Out of PayPal; Dispute Fees; Other Fees (Last Updated 28 March 2024) (checked 6 Oct 2026)
18. Payoneer India home (checked 6 Oct 2026)