What Is the P0102 Purpose Code?

The P0102 purpose code covers money received from abroad when an export bill for goods, sent on collection, is paid by the buyer. RBI lists it in Group 01, Exports (of Goods), of the FETERS purpose code list. On collection means the bank forwards the shipping documents and pays the exporter only once the buyer pays, without financing the bill first. The description asks for the full invoice value. P0102 excludes exports to Nepal and Bhutan, which have their own code, P0109. The code applies to goods only, so it does not fit payments for services.

P0102 vs P0101: P0101 is "Value of export bills negotiated / purchased/discounted etc. (covered under GR/PP/SOFTEX/EC copy of shipping bills etc.) – Other than Nepal and Bhutan". Under P0101, the bank negotiates, purchases or discounts the bill, which usually means it pays the exporter before the buyer pays. Under P0102, the bank only collects the bill and pays after the buyer pays. A related code, P0105, describes export bills sent on collection, while P0102 describes their realisation. See the comparison of P0101, P0102 and P0103.

Use the P0102 purpose code when the payment received is the buyer's settlement of a goods export bill that your AD bank sent on collection. The goods must already be shipped, and the bill must not have been negotiated, purchased or discounted. Under Regulation 5(1)(a) of the 2026 Export and Import Regulations, the full export value of goods must be realised within nine months from the date of shipment. Confirm the code with your AD bank when it reports the receipt.

• Use P0101 instead: Use P0101 (Value of export bills negotiated / purchased/discounted etc. (covered under GR/PP/SOFTEX/EC copy of shipping bills etc.) – Other than Nepal and Bhutan) when your bank negotiates, purchases or discounts the export bill instead of sending it on collection.
• Use P0103 instead: Use P0103 (Advance receipts against export contracts, which will be covered later by GR/PP/SOFTEX/SDF – other than Nepal and Bhutan) when the buyer pays in advance, before the goods are shipped.
• Use P0109 instead: Use P0109 (Export realisation on account of exports to Nepal and Bhutan, if any) when the goods were exported to Nepal or Bhutan.

The P0102 purpose code is used by manufacturers, merchant exporters and trading firms in India that ship physical goods abroad and route the export documents through their AD bank for collection. The AD bank reports each receipt with its purpose code under FETERS, as required by Regulation 18(2) of the 2026 Regulations and the FETERS reporting guidelines.

• For example, a textile exporter in Tiruppur ships garments to a buyer in Germany, lodges the documents with its AD bank for collection, and the euro payment received 60 days later is reported under P0102.
• For example, an engineering goods maker in Rajkot sends a bill on collection to a buyer in the United States and receives the full invoice value, which the bank reports under P0102.
• For example, a spice merchant exporter in Kochi ships to a buyer in the UAE, the buyer pays against documents through its bank, and the realisation is reported under P0102.
• For example, a handicrafts exporter in Jaipur receives payment for a shipment to a buyer in France after the bill was sent on collection, and generates the eBRC against the P0102 receipt.

• The bank negotiated, purchased or discounted the export bill and paid you before the buyer paid. Use P0101 (Value of export bills negotiated / purchased/discounted etc. (covered under GR/PP/SOFTEX/EC copy of shipping bills etc.) – Other than Nepal and Bhutan).
• The buyer pays in advance, before the goods are shipped. Use P0103 (Advance receipts against export contracts, which will be covered later by GR/PP/SOFTEX/SDF – other than Nepal and Bhutan).
• The goods were exported to Nepal or Bhutan. Use P0109 (Export realisation on account of exports to Nepal and Bhutan, if any).
• The receipt is for the export leg of a merchanting trade, where the goods never pass through India. Use P0108 (Goods sold under merchanting / Receipt against export leg of merchanting trade).

For the P0102 purpose code, the core documents are the shipping bill, the commercial invoice, the transport document and your bank's bill lodgement request. Under Regulation 3(1) of the 2026 Regulations, an exporter of goods declares the full export value on the Export Declaration Form (EDF) at the time of export, and the EDF is deemed submitted as part of the shipping bill at EDI ports. Each AD bank lists its required documents and timelines in its own policy under Regulation 19.

• Shipping bill: Keep the shipping bill number and date, since the AD bank matches the receipt to this entry in EDPMS. See what a shipping bill is.
• Invoice: Use the same invoice number, currency and value in the shipping bill, the bill of exchange and the bank documents.
• Transport: Submit the bill of lading or airway bill that the buyer needs to take delivery of the goods.
• Bank form: Fill the AD bank's export bill lodgement form and state that the bill is sent on collection. Regulation 19(4) of the 2026 Regulations requires the bank to disclose its policy and main SOP features on its website.
• Earlier rule: The superseded Master Direction set 21 days from the date of export for lodging documents. The 2026 Regulations do not repeat this period, so check the timeline with your AD bank.

1. Confirm that the payment is for goods already shipped and that the export bill was sent on collection, not negotiated, purchased or discounted.
2. When the AD bank advises the inward payment, check that the remitter, amount and currency match the export bill and invoice.
3. Select P0102 in the bank's portal or inward remittance form, or write the code and its description if the form asks for text.
4. Quote the shipping bill number and date and the bill reference so the bank can close the EDPMS entry.
5. Check that the credit advice shows P0102 and the full invoice value, and ask the bank to correct the code before you generate the eBRC if it does not.

• FIRA/eBRC: Your AD bank shares the inward remittance details with the DGFT system, and you generate the eBRC yourself. According to the DGFT FAQs on self-certified eBRC, the onus of generating the eBRC has shifted to exporters. The DGFT bulk eBRC user guide allows P0102, P0103, P0104 and P0109 for goods.
• GST status: Export of goods means taking goods out of India to a place outside India under section 2(5) of the IGST Act. Export of goods is a zero rated supply under section 16(1)(a) of the IGST Act.
• LUT: Under section 16(3), a registered person can export without paying integrated tax under bond or Letter of Undertaking, filed as FORM GST RFD-11 on the GST portal.
• GST refund risk: The proviso to section 16(3) of the IGST Act makes an exporter of goods deposit a refund with interest if sale proceeds are not realised within the FEMA time limit.
• Income tax: The purpose code does not change how export income is taxed. The income goes into your return as business income. The Income-tax Act, 2025 replaced the 1961 Act from 01.04.2026. Take advice from a tax professional.
• Realisation: Under Regulation 5(1)(a) of the 2026 Regulations, goods export value must be realised within nine months from the date of shipment, or twelve months if invoiced or settled in Indian rupees. The September 22, 2026 amendment cut these from fifteen and eighteen months. The AD bank may extend the period.

• Wrong mode: Choosing P0102 for a bill the bank negotiated or discounted, where P0101 is the matching code.
• Services receipts: Using P0102 for payments for services. The DGFT bulk eBRC user guide says P0102 cannot be used for non-IT services.
• Nepal or Bhutan: Reporting a receipt for exports to Nepal or Bhutan under P0102, when P0109 covers those exports.
• Advance mix-up: Using P0102 for an advance received before shipment, which belongs under P0103.
• Partial value: Leaving a short receipt unexplained. Under Regulation 6, the AD bank can allow a reduction in export value on request, and on the exporter's declaration up to ₹10 lakh per shipping bill.
• Unmatched receipt: Not quoting the shipping bill number, which leaves the EDPMS entry open. See EDPMS closure.

The code, its official description and every rule on this page are linked to RBI and other official sources, checked on the dates below.

1. RBI: Guidelines for Submission of Data, Foreign Exchange Transactions Electronic Reporting System (FETERS), purpose code list for receipts, Annex purpose codes, receipts, Group 01 Exports (of Goods): P0101, P0102, P0103, P0104, P0105, P0107, P0108, P0109; reporting table listing Exports (P0101, P0102, P0103 & P0109) with N/P/D, advance and collection realised (checked 9 Oct 2026)
2. RBI A.P. (DIR Series) Circular No. 84 dated February 29, 2012: Compilation of R-Returns, Reporting under FETERS, Paragraph 3: AD banks to report all foreign exchange transactions as per the revised purpose code list from April 2012 (checked 9 Oct 2026)
3. RBI Notification No. FEMA 23(R)/2026-RB: Foreign Exchange Management (Export and Import of Goods and Services) Regulations, 2026 (amended up to September 22, 2026), Regulations 1(2), 3(1), 4(2), 5(1)(a), 6, 13, 18(2), 19(1) and 19(4); footnotes 2 to 5 on the September 22, 2026 amendment (checked 9 Oct 2026)
4. RBI A.P. (DIR Series) Circular No. 20 dated January 16, 2026: Export and Import of Goods and Services, Paragraphs 4 and 7: Master Direction on Export of Goods and Services superseded from October 01, 2026 (checked 9 Oct 2026)
5. RBI Master Direction: Export of Goods and Services (superseded from October 01, 2026), 21 days for lodging shipping documents with the AD bank; cited only as the earlier rule (checked 9 Oct 2026)
6. IGST Act, 2017, Section 2: Definitions (CBIC tax information portal), Section 2(5): definition of export of goods (checked 9 Oct 2026)
7. IGST Act, 2017, Section 16: Zero rated supply (CBIC tax information portal), Section 16(1)(a) and 16(3) with proviso on non-realisation of sale proceeds (checked 9 Oct 2026)
8. GST Portal user manual: Furnishing of Letter of Undertaking (FORM GST RFD-11) (checked 9 Oct 2026)
9. Income Tax Department e-filing portal: Objective and scope of the New Act, FAQ 2: the 1961 Act stands repealed on 01.04.2026 (checked 9 Oct 2026)
10. DGFT: Exporter User Guide on Bulk Generation of eBRC, Page 9: for goods, purpose codes P0102, P0103, P0104, P0109 allowed; P0102, P0104 and P0109 cannot be used for non-IT services (checked 9 Oct 2026)
11. DGFT: FAQs on Self-Certification of eBRC, FAQ 64: onus of generating eBRC shifted to exporters; banks report IRM as per the purpose code list (checked 9 Oct 2026)