RBI purpose code · Money received (inward)

P0103: Advance received against export contract (other than Nepal and Bhutan)

Short answer. P0103 is the RBI purpose code for money received from abroad: advance received against export contract (other than Nepal and Bhutan). The goods should normally be shipped within one year, and the advance is then adjusted against the Shipping Bill.

Direction
Money received (inward)
RBI head
01 · Goods – exports and imports
Bank application
None: the bank issues a FIRA
Income tax
Your income
GST
Zero-rated
Reporting
EDPMS · advance
In FxLayer
An advance: links to a proforma invoice.

When to use P0103

Use P0103 for money received from abroad: advance received against export contract (other than Nepal and Bhutan). It sits under RBI head 01, goods – exports and imports.

Keep the contract or order the advance is against: the bank will ask for the Shipping Bill that uses it up.

The same purpose in the other direction is S0103: Imports by diplomatic missions (other than Nepal and Bhutan) (money paid abroad).

Form A1 or Form A2

Neither. Form A1 and Form A2 are applications to send money out of India. For money coming in, the bank issues a Foreign Inward Remittance Advice (FIRA), or a payment platform an e-FIRA, naming the purpose code.

Income tax

Money received for goods or services you export is your business or professional income, taxed in your own return with the rest of your income. Nothing is withheld in India on money coming in.

GST

Exports of goods are zero-rated: shipped under a Letter of Undertaking without IGST, or with IGST paid and refunded, the Shipping Bill serving as the refund claim.

Reporting and closure

An advance creates an obligation to ship: goods should normally be shipped within one year of the advance, which is then adjusted against the Shipping Bill. If shipment is not possible, the advance is refunded to the buyer through the bank.

Questions

Neither. Form A1 and Form A2 are applications to send money out of India. For money coming in, the bank issues a Foreign Inward Remittance Advice (FIRA), or a payment platform an e-FIRA, naming the purpose code.
Money received for goods or services you export is your business or professional income, taxed in your own return with the rest of your income. Nothing is withheld in India on money coming in.
Exports of goods are zero-rated: shipped under a Letter of Undertaking without IGST, or with IGST paid and refunded, the Shipping Bill serving as the refund claim.

Guides

General information on RBI purpose codes and the FEMA, income-tax and GST rules as they stood on 14 October 2026. It is not legal or tax advice: confirm the position for your payment with your AD bank or your chartered accountant before acting.