How Can Jewellery Exporters in India Receive International Payments in 2026?

• Ticket size: Order values vary widely. A wholesaler or retail chain may buy a large consignment of gold or diamond jewellery, while an online store or boutique may order a few pieces of silver or fashion jewellery at a time.
• Currencies: Buyers usually pay in USD, with EUR, GBP, AED and other currencies also common. The FEMA (Manner of Receipt and Payment) Regulations, 2023 allow buyers outside the Asian Clearing Union to pay in INR or any foreign currency, with separate rules for Nepal, Bhutan and other ACU members.
• Geography: Buyers include importers, wholesalers, retail chains, online stores and individual shoppers abroad. Some trade runs through exhibitions abroad or consignment stock. FTP paragraph 4.45 lets nominated agencies and their associates export jewellery for exhibitions with approval, and paragraph 4.53 allows consignment exports under the Handbook of Procedures.
• Payment methods: Trade buyers usually pay by bank transfer, either in advance or after shipment against documents sent through the exporter's AD bank, sometimes under a letter of credit. Retail and online buyers often pay by card or through a marketplace.

1. 1Buyer's bankDeduction: A sending fee, if the buyer's bank charges one. On a SWIFT wire the buyer chooses who bears the charges, and some banks charge the sender.
2. 2Intermediary bankDeduction: A possible flat handling deduction. Correspondent banks routing a SWIFT wire can deduct their charge before the money reaches India.
3. 3Collecting or negotiating bankDeduction: Collection, negotiation or letter of credit charges, where documents are involved. Banks handling export bills or letters of credit charge for examining and forwarding documents.
4. 4AD bank or providerDeduction: A conversion margin and any inward or transfer fee. The bank or provider converts the currency at its own rate, which sits away from the mid-market rate.
5. 5Exporter's accountDeduction: None, unless the money is kept in an EEFC or Diamond Dollar Account and converted later. The credit carries the inward remittance record used to close the shipping bill in EDPMS and to generate the e-BRC.

The table ranks platforms with full published pricing for USD by the INR received on USD 15,000, then lists other business platforms that accept USD, unranked. Fees were checked on 30 Sept 2026 or later.

Each row applies the platform's published fee, FX markup and 18% GST on the fee to the mid-market rate of ₹94.39 per USD for 4 Nov 2026.

• Order size: Paragraph 11(d) of the RBI Master Direction on Payment Aggregators caps each inward transaction through a cross-border payment aggregator at ₹25 lakh. Larger gold or diamond consignments need a bank wire or documentary route. See PA-CB transaction limits.
• Dollar accounts: FTP paragraph 4.50 lets firms with a three-year track record and average annual turnover of ₹3 crore or more use a Diamond Dollar Account. The RBI Master Direction on Deposits and Accounts requires monthly accruals not used for approved purposes to be converted to INR by the end of the next month.
• Buyer-supplied metal: Under FTP paragraph 4.44, a foreign buyer can supply gold, silver or platinum free of charge for manufacture and export to nominated agencies, status holders or exporters of three years standing with average annual turnover of ₹5 crore. Minimum value addition under the Handbook of Procedures applies.
• Gold imports: Jewellers who also import bullion should note Regulation 11, which bars AD banks from allowing advance remittance for the import of gold or silver, unless otherwise provided. Plan the import payment terms before booking export orders.
• Short payments: If a buyer pays less than the invoice, Regulation 6 lets the AD bank allow a reduction in export value. Where the value per shipping bill is up to ₹10 lakh, the exporter's declaration is enough. See short realisation of export proceeds.

Jewellery exporters in India need an IEC, an AD code registered with Customs, a shipping bill that doubles as the EDF at EDI ports, and payment realised within nine months of shipment. The FEMA (Export and Import of Goods and Services) Regulations, 2026 apply from 1 October 2026, and the AD bank closes each shipping bill in EDPMS.

• IEC: FTP paragraph 2.05 makes the Importer-Exporter Code mandatory for any export or import, and the IEC is the same as the entity's PAN. See how to apply for an IEC.
• AD code: Register the AD bank's code with Customs before filing shipping bills. The ICEGATE FAQ says AD code registration is done online through the user profile on ICEGATE. See AD code registration.
• Shipping bill and EDF: Regulation 3(1) requires an EDF stating the full export value at the time of export, and treats it as part of the shipping bill at EDI ports. At non-EDI ports, Customs forwards the EDF to the AD bank. See shipping bill.
• EDPMS: Under Regulation 4(2), the AD bank closes the shipping bill in EDPMS when it credits the payment. For shipping bills up to ₹10 lakh, closure can rest on the exporter's declaration, filed singly or quarterly. See EDPMS closure.
• e-BRC: The exporter generates the e-BRC on the DGFT portal from bank-reported remittances. The DGFT bulk eBRC guide allows purpose codes P0102, P0103, P0104 and P0109 for goods, and the eBRC guidelines bar e-BRCs for P0101 and P0108. See what is an e-BRC.
• Purpose code: In the RBI purpose code list, P0102 is "Realisation of export bills (in respect of goods) sent on collection (full invoice value)" and P0103 is "Advance receipts against export contracts, which will be covered later by GR/PP/SOFTEX/SDF", both for countries other than Nepal and Bhutan. See purpose code for export of goods.

Jewellery exports from India are zero-rated for GST, and the profit is business income for income tax. Under IGST Act section 16, an exporter can ship under an LUT without IGST, or pay IGST and claim a refund. From tax year 2026-27, income tax falls under the Income-tax Act, 2025.

• LUT route: File a Letter of Undertaking in Form GST RFD-11 before export under CGST Rule 96A. If the goods are not exported within three months of the invoice, or any further period allowed, the tax is payable with interest within fifteen days after that period. See LUT filing on the GST portal.
• IGST refund: An exporter that pays IGST on the export can claim it back. Under CGST Rule 96, the shipping bill is treated as the refund application once the export manifest is filed and a valid GSTR-3B return is furnished. See what is IGST refund.
• Non-realisation: The proviso to IGST Act section 16(3) requires an exporter of goods to repay any refund of unutilised input tax credit claimed on LUT exports, with interest, within 30 days after the FEMA realisation period ends if the sale proceeds are not received.
• Section 58: Section 58 of the Income-tax Act, 2025 carries the old section 44AD scheme. A resident individual, HUF or non-LLP firm with business turnover up to ₹2 crore, or ₹3 crore if cash receipts are within 5 percent, can declare 6 percent of digitally received turnover and 8 percent of the rest as profit. Companies and LLPs cannot use it.
• Withholding: Whether a foreign buyer deducts tax from a payment for goods depends on the law of the buyer's country. If an amount is deducted, ask the buyer for the deduction certificate and check with a tax adviser whether a foreign tax credit can be claimed in India.

Rules and rails are linked to official sources below with the dates they were checked. Platform figures come from each platform's own pages, checked on 30 Sept 2026 or later, and RBI authorisation was checked against RBI's published list. Rates are XE live mid-market rates, dated 4 Nov 2026. The method is on the methodology page.

1. Foreign Exchange Management (Export and Import of Goods and Services) Regulations, 2026, Notification No. FEMA 23(R)/2026-RB (amended up to 22 September 2026), Reg 1(2) in force 1 October 2026; Reg 2(1)(f)(i) specified authority for goods is Customs in DTA; Reg 3(1) EDF for goods at time of export, deemed part of shipping bill at EDI ports; Reg 3(3) non-EDI forwarding; Reg 4(2) EDPMS closure, declaration up to ₹10 lakh, quarterly bulk option; Reg 5(1)(a),(b) nine months from shipment or from sale from warehouse, twelve if invoiced/settled in INR; Reg 6 reduction, declaration up to ₹10 lakh per shipping bill; Reg 11 no advance remittance for import of gold or silver; Reg 13 unrealised beyond one year: full advance or irrevocable LC; caution list proviso (checked 8 Oct 2026)
2. Foreign Exchange Management (Export and Import of Goods and Services) (Amendment) Regulations, 2026 (22 September 2026), Regulation 5(1): 'fifteen months' replaced by 'nine months'; 'eighteen months' replaced by 'twelve months' (checked 8 Oct 2026)
3. RBI A.P. (DIR Series) Circular No. 20 (16 January 2026), Para 4: Master Directions on Export and Import of Goods and Services and listed circulars superseded from the date the directions come into force (checked 8 Oct 2026)
4. Foreign Exchange Management (Manner of Receipt and Payment) Regulations, 2023, Regulation 3(2)(I): Nepal and Bhutan in INR; ACU members through ACU mechanism; other countries in Indian Rupees or in any foreign currency (checked 8 Oct 2026)
5. RBI Master Direction on Regulation of Payment Aggregator (PA), Para 11(d): maximum value per transaction processed by a PA-CB is ₹25 lakh; para 11(h): PA-CB to provide documents to the exporter's AD bank for EDPMS closure (checked 8 Oct 2026)
6. RBI Master Direction - Deposits and Accounts, Para 3.1 EEFC account; para 3.4 Diamond Dollar Account: eligibility per Foreign Trade Policy, non-interest bearing current account, monthly accruals converted to Rupees by the last day of the succeeding month after approved uses (checked 8 Oct 2026)
7. RBI circular RBI/2026-27/08: faster cross-border inward payments (9 April 2026), Para 3: endeavour to credit inward payments received during forex market hours within the same business day; para 4: effective six months from the circular date (checked 8 Oct 2026)
8. RBI A.P. (DIR Series) Circular No. 84: Purpose codes for reporting under FETERS (29 February 2012), Annex, Group 01 Exports (of Goods): P0102 Realisation of export bills (in respect of goods) sent on collection (full invoice value), other than Nepal and Bhutan; P0103 Advance receipts against export contracts, which will be covered later by GR/PP/SOFTEX/SDF, other than Nepal and Bhutan (checked 8 Oct 2026)
9. Foreign Trade Policy 2023, Chapter 4 (revised), DGFT, Para 4.44 supply by foreign buyer (three years standing, ₹5 crore average turnover); 4.45 exhibitions abroad and personal carriage; 4.47 export by post, parcel not exceeding 20 kgs; 4.50 Diamond & Jewellery Dollar Accounts (three-year track record, ₹3 crore average turnover); 4.53 export and import on consignment basis (checked 8 Oct 2026)
10. Foreign Trade Policy 2023, Chapter 2 (revised), DGFT, Para 2.05: IEC is a 10-character number, mandatory for undertaking any export/import activities; same as PAN (checked 8 Oct 2026)
11. ICEGATE FAQ, AD code: online registration by accessing user profile on ICEGATE; IEC is a 10-digit number issued by DGFT; Status of SB in RBI - EDPMS under Public Enquiries (checked 8 Oct 2026)
12. DGFT Self-Certified eBRC Generation Guidelines v1.0 (10 November 2023), Rule 3: no eBRC for P0101 and P0108; Rule 4: for P0103 the shipping bill/invoice date must be on or after the remittance date (checked 8 Oct 2026)
13. DGFT Exporter User Guide on Bulk Generation of eBRC, For goods, purpose codes P0102, P0103, P0104, P0109 allowed (checked 8 Oct 2026)
14. DGFT FAQs on Self-Certification of eBRC, Q1: eBRC confirms receipt of payment against export of goods or services; Q10: generate via DGFT website after linking IEC; Q25: purpose code changes through the bank; Q36: shipping bill and IRM currency can differ (checked 8 Oct 2026)
15. Integrated Goods and Services Tax Act, 2017, section 16 (CBIC), 16(1)(a) export of goods is zero rated; 16(3) supply under bond or LUT and refund; proviso: exporter of goods to deposit refund with interest within thirty days after FEMA time limit on non-realisation (checked 8 Oct 2026)
16. Central Goods and Services Tax Rules, 2017, Rule 96 (CBIC), Rule 96(1): shipping bill deemed application for refund of IGST paid on goods exported, once export manifest filed and valid GSTR-3B furnished (checked 8 Oct 2026)
17. Central Goods and Services Tax Rules, 2017, Rule 96A (CBIC), Rule 96A(1)(a): LUT in Form GST RFD-11 prior to export; tax payable with interest if goods not exported within three months of invoice or further period allowed (checked 8 Oct 2026)
18. Income Tax Department: Objective and scope of the new Act (Income-tax Act, 2025), 1961 Act repealed on 01.04.2026; FAQ 25: presumptive schemes in sections 44AD, 44ADA and 44AE consolidated into section 58 (checked 8 Oct 2026)
19. The Income-tax Act, 2025 (No. 30 of 2025), Gazette of India, Section 58(2) Table serial 1: eligible assessee, turnover not exceeding ₹2 crore or ₹3 crore where cash receipts do not exceed 5%; 6% of turnover received by specified banking or online mode, 8% of the rest; 58(11)(a) eligible assessee: resident individual, HUF or firm other than LLP, not earning commission or brokerage or carrying on agency business (checked 8 Oct 2026)
20. Skydo homepage (pricing and fee calculator), Know what you pay; calculator showing GST 18% of transaction fee (checked 6 Oct 2026)
21. 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)
22. Kotak Everyday Savings Account fees and charges, Foreign Inward Remittance certificate (Branch Request) INR 100/Request; GST on Foreign Currency Conversion; fees exclusive of GST (checked 6 Oct 2026)
23. HDFC Bank: Remittance Services Fees & Charges, Inward Remittance Charge: No Charge; FIRC Charge for Inward Remittance & FCY Cheque Collection INR 200 per FIRC; GST slabs on amount of currency exchanged (checked 6 Oct 2026)
24. 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)
25. Stripe India pricing, International cards with USD/other currency presentment 4.3% + 2% if currency conversion is required; Mastercard and Visa cards issued outside India 3% + 2%; American Express outside India 3.5% + 2%; dispute received INR 1,000.00 (checked 7 Oct 2026)
26. 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)
27. Airwallex Help: Eligible Countries and Territories, INDIA IN - AWX Legal Entity SINGAPORE (checked 7 Oct 2026)