RBI eases export-import reporting for individuals, sets Rs 10 lakh threshold. Read the key points, why it matters and what businesses should watch next.
RBI Simplifies Export-Import Reporting Norms
The Reserve Bank of India has amended the Foreign Exchange Management regulations covering the export and import of goods and services, easing compliance for resident individuals and introducing a monetary threshold for certain service transactions. The changes were notified via the Foreign Exchange Management (Export and Import of Goods and Services) (Second Amendment) Regulations, 2026, dated November 2, and take effect retrospectively from October 1, 2026. They modify the principal regulations issued on January 13, 2026.
**What the amendments change**
For exporters of services, the amended rules provide that a resident individual — defined as a natural person resident in India — will be treated as having submitted the Export Declaration Form once the requisite information is furnished to an Authorised Dealer for crediting the payment received into their account. No monetary ceiling is specified for resident individuals under this provision.
A similar deemed-submission facility extends to service exporters who are not resident individuals, but only where the inward remittance for the service does not exceed Rs 10 lakh or its foreign currency equivalent. This creates a defined threshold for the simplified EDF mechanism for such exporters.
Separately, the RBI has narrowed the import-of-services reporting obligation under Regulation 18. Earlier, Authorised Dealers had to enter service import details in the Import Data Processing and Monitoring System within five working days of receiving documents, as declared by the importer. Now, IDPMS entry is required only when the importer is not a resident individual and the invoice or contract value exceeds Rs 10 lakh or its equivalent. The five-working-day timeline from receipt of details furnished by the importer continues to apply.
**Why it matters for businesses**
The amendments reduce the compliance burden on individuals receiving payments for exported services, who now …
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