RBI purpose code · Money paid abroad (outward)

S1502: Reversal of wrong entries, refund of amount remitted for non-exports

Short answer. S1502 is the RBI purpose code for money paid abroad: reversal of wrong entries, refund of amount remitted for non-exports. It reverses an earlier payment or receipt, which lets the bank close the original entry.

Direction
Money paid abroad (outward)
RBI head
15 · Refunds, bidding and deemed trade
Bank application
Form A2
Form 145 / 146
Part D, if the bank asks.
Income tax
Not income
GST
Follows the original
Reporting
Reverses a payment
In FxLayer
A refund: links to the payment or receipt it reverses.

When to use S1502

Use S1502 for money paid abroad: reversal of wrong entries, refund of amount remitted for non-exports. It sits under RBI head 15, refunds, bidding and deemed trade.

The same purpose in the other direction is P1502: Reversal of wrong entries, refund of amount remitted for non-imports (money received).

Form A1 or Form A2

Form A2: the application for every payment abroad other than for goods imported into India. The bank may ask for the documents behind the payment and, unless the code is on the specified list, for Form 145.

Income tax

Not income of the payee (a tax payment, a refund or a reversed entry): there is nothing to withhold.

Form 145 / 146: Part D, if the bank asks.

GST

A refund or reversal takes the GST treatment of the payment it reverses; it is not a new supply.

Reporting and closure

A refund or reversal is reported against the payment or receipt it undoes, which lets the bank close the original entry in IDPMS or EDPMS.

Questions

Form A2: the application for every payment abroad other than for goods imported into India. The bank may ask for the documents behind the payment and, unless the code is on the specified list, for Form 145.
Not income of the payee (a tax payment, a refund or a reversed entry): there is nothing to withhold. Form 145 / 146: Part D, if the bank asks.
A refund or reversal takes the GST treatment of the payment it reverses; it is not a new supply.

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.