When to use P1505
Use P1505 for money received from abroad: deemed exports (between SEZ, EPZ and the domestic tariff area). It sits under RBI head 15, refunds, bidding and deemed trade.
The same purpose in the other direction is S1505: Deemed imports (between SEZ, EPZ and the domestic tariff area) (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
Supplies from the domestic tariff area to an SEZ unit or developer are zero-rated; goods moving from an SEZ into the domestic tariff area are treated as imports, with customs duty and IGST on the Bill of Entry.
Reporting and closure
Deemed exports and imports between an SEZ, an EPZ and the domestic tariff area are settled against the invoice and the SEZ documents, like an ordinary export or import.
Questions
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.