Jun 20, 2014 07:16:25 AM Edited Oct 30, 2014 07:34:42 AM by Kalpana P
Solved! Go to Solution.
Jun 21, 2014 10:18:53 PM Edited Oct 30, 2014 07:32:34 PM by Sandeep C
Jun 22, 2014 06:14:40 PM Edited Oct 30, 2014 07:32:36 PM by Francisco F
Jun 23, 2014 04:50:55 AM Edited Oct 30, 2014 07:32:37 PM by Kalpana P
Jun 25, 2014 10:15:37 PM Edited Oct 30, 2014 07:37:20 PM by Sandeep C
Jun 28, 2014 03:01:44 PM Edited Oct 30, 2014 07:37:22 PM by Nitin Kumar S
Dec 15, 2015 08:29:01 PM by Vinay D
Hi Kalpana,
Did you find a solution to this problem?
For claiming exemption under Service Tax (export) we need a FIRC.
FIRC is a proof that the earning was in foreing currency.
Now, the bank does not provide the FIRC since they receive the funds in INR from either Western Union (Elance) or ODesk (Upwork) via NEFT. Therefore, the bank says, since they are not the ones involved in conversion from USD to INR, they cannot provide FIRC.
How to obtain this document then?
If you or someone in the community has found an effective solution, please be kind to share and oblige.
Best,
Vinay
Sep 22, 2016 05:22:52 AM by ARUN S
Hello Vinay
I am facing same problem as you. Did you find the solution ?
Thanks
Feb 22, 2017 03:40:32 AM by V D S Ram Gupta K
Did any one find a solution for same. I am facing the same issue.
Jul 26, 2017 02:31:52 AM Edited Jul 26, 2017 02:33:10 AM by Angad S
as per GST law and save 18% tax we need this document (FIRC) to proof that payment came from abroad and what paid in foreign currency. hence it will qualify for export of service and payments from upwork will qualify for exempt from tax.
Has any body found a solution. Also does any one knows which bank is used by Upwork to transfer money to India.
Apr 26, 2020 10:44:14 PM by Manu J
Hi Angad, I have been seeing that started the thread and have a quite of lot of discussion with the Upwork Team. Are you able to find any solution around it?
FIRC for LFT.
Aug 1, 2018 03:51:42 AM Edited Aug 1, 2018 03:53:49 AM by V D S Ram Gupta K
I am withdrawing funds either using paypal or Wiretransfer. They both cost more when compared to LFT but to get an FIRC these are the only options.
If you are withdrawing using paypal here is the procedure
https://www.paypal.com/in/webapps/mpp/firc-certificate
If its a wire transfer you can easily get an FIRC from your bank to which the amount has been credited. Just contact the bank once you get the funds and they will give it. Some private banks automically mail the FIRC to us once the amount is received. They call it Inward Remittence and they said this can be used as proof that we received amount in foreign currency.
Mar 28, 2020 03:41:04 AM by Jigarkumar G P
Mar 28, 2020 05:33:58 AM by Aleksandar D
Hi Jigarkumar,
You can check out this help article and the 'Remittance Information' section for more information. Let us know if you have further questions.
Thank you.
Jul 5, 2020 01:04:00 PM by Shubham K
Hello Everyone,
As per my current understanding, in case of "Local Fund Transfer" mode of payment, the invoice amount is first converted into INR from upwork partner bank in US (Wells Fargo) and then transferred into Indian Bank (Standard Chartard Bank), which in-turn credit the amount into your bank via a NEFT transfer.
Now since the money in SCB is received in INR denomination, they would not be in a position to issue you a FIRC certificate.
The implicaiton of this would be that your invoices will not be considered as export of services and you shall be liable to pay 18% GST on your receipts.
Please note in case if you have received money by a wire transfer or in case if SCB has received your money in foreign currecny and then converted it into INR, they are legally liabile to provide you a FIRC certificate.
You need to check in your mode of payment how SCB has received the funds and proceed accordingly.
Hope my answer was helpful!
Aug 10, 2021 05:06:21 AM Edited Aug 10, 2021 05:07:19 AM by Sridhar J
Hi Shubam,
You are really helpful in answering queries to people about GST and FIRC. In my case, I have used LFT method before me registering my company for GST. After registering for GST, I'm withdrwaing my funds using wire transfer.
However, during the period of Feb 2016 to June 2017 I have used LFT for fund transfer. It is necessary to get FIRC for LFT transactions during this period? However, I have received payment receipts from Upwork for these LFT transactions.
Kindly help
Aug 20, 2022 05:25:17 AM by Mukesh K
Hi Shridhar,
I have a similar issue. Received a notice from Service Tax department about the LFT transfers between Arp-2016 and Jun-2017.
Were you able to get the FIRC for LFT mode?
Thanks
Mukesh
Aug 20, 2022 07:29:44 AM by Annie Jane B
Hi Mukesh,
Thank you for reaching out to us. I can see that you opened a support ticket regarding this issue. Please allow our team 24-48 hours to review your request and reach out to assist you further. You can access your support tickets here.
Sep 24, 2022 06:02:00 AM by abhishek k
Mukesh, how did you resolved the issue? Did you pay fine?? Or were you able to get FIRC?? I am also withdrawing using LFT and might end up in the same situation so really worried
Jul 15, 2022 11:17:08 AM by Abhishek U
Is FIRC certificate is also required for individual freelancers who do not have any GST registration also ?