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FIRC from Standard Chartard Bank

dtindia
Active Member
Amit D Member Since: Mar 12, 2020
1 of 6

Hi,

 

Does anyone know the process and contact details of Standard Chartard to get FIRC from them. I'm not able to claim GST refund as SC has not issued me any FIRC. Need urgent help Smiley Sad

 

Thanks in advance.

vladag
Community Manager
Vladimir G Community Manager Member Since: Oct 31, 2014
2 of 6

I'd like to kindly ask freelancers located in India who have previous experience with obtaining FIRC from the bank in question to follow up and advise Amit on the required steps and procedure. Thank you.

Untitled
e58c8405
Ace Contributor
Shubham K Member Since: Aug 18, 2017
3 of 6

Hello Amit, 

 

As per my current understanding, in case of "Local Bank 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!

nsaklecha
Active Member
Nitin S Member Since: Jan 13, 2016
4 of 6

Hi Shubham,

Were you able to figure out a way to avoid GST or get FIRC from Indian bank when we receive funds in local currency.

 

If possible can we connect on call or chat?

 

Thanks

Nitin

e58c8405
Ace Contributor
Shubham K Member Since: Aug 18, 2017
5 of 6

Hi Nitin,

 

Please check your DM.

c56423ee
Active Member
Puneet S Member Since: Jun 28, 2021
6 of 6

Hello Shubham

 

Did SCB issue you a FIRC for payments, or is there any other way for getting a FIRC for local bank transfers from Upwork?

 

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