Overview
- The RBI issued the Foreign Exchange Management (Export and Import of Goods and Services) (Second Amendment) Regulations on Tuesday, November 3, 2026, and made the changes effective retrospectively from October 1, 2026.
- Resident individual service exporters will be deemed to have submitted the Export Declaration Form when they give required payment details to their authorised dealer bank, so they no longer must file a separate EDF in most cases.
- The deemed‑submission facility is extended to non‑resident exporters for inward remittances for a service that do not exceed Rs 10 lakh or its foreign‑currency equivalent.
- Authorised dealer banks must enter service import details in the Import Data Processing and Monitoring System within five working days only when the importer is not a resident individual and the invoice or contract value exceeds Rs 10 lakh.
- The changes ease paperwork for freelancers and other small exporters by removing routine EDF filings while keeping monitoring for larger cross‑border service transactions and may require banks and exporters to update processes for transactions recorded since October 1.