RBI Compliance - Direct INR payment received in Current A/c by an Indian Pvt. Ltd Co from o/s India

 Here's a breakdown of the compliances: RBI/FEMA Compliances .

1. *FCNR (B) Account*: Not required, as you're receiving payment in INR.

2. *FEMA Declaration*: You'll need to file a FEMA declaration with the AD (Authorized Dealer) bank, stating that the payment received is for export of services.

 3. *Export Declaration Form (EDF)*: Not required, as you're providing digital services.

4. *Realization of Export Proceeds*: You'll need to realize the export proceeds within the stipulated timeframe (typically 9 months from the date of export).

5. *Export Invoices*: Ensure that your export invoices comply with RBI guidelines, including details like invoice number, date, descripttion of services, value, and payment terms.

Reporting Requirements 1. *Annual Performance Report (APR)*: File the APR with the RBI, providing details of your export earnings.

 2. *Foreign Inward Remittance Certificate (FIRC)*: Obtain an FIRC from your bank for each inward remittance, and file it with the RBI.

 3. *Export Data Processing and Monitoring System (EDPMS)*: File export data with the EDPMS, if your export value exceeds ₹5 lakhs.

Other Compliances

1. *GST Registration*: Ensure you have a valid GST registration, as you're providing digital services.

 2. *GST Returns*: File GST returns (GSTR-3B and GSTR-1) regularly, reporting your export earnings and GST liability.

3. *Income Tax Compliance*: Comply with income tax regulations, including filing of income tax returns and payment of