Setindiabiz Team |
Updated : May 31, 2024
Updated : May 31, 2024Purpose Code for FDI / FC-GPR Reporting after receipt of Foreign Remittance
India is a robust economy attracting foreign investment from the world over. Generally, the FDI is allowed under the automatic route of investment based on the proposed activity of the company in India. When the remittance for such foreign direct investment is remitted to India, then the purpose code of the remittance is required to be communicated to the receiving bank by way of an email confirmation and through the FDI Declaration. The purpose code of remittance is also required at the time of filing FC-GPR to RBI, Here is the List of purpose code in the tabular presentation.
India is a robust economy attracting foreign investment from the world over. Generally, the FDI is allowed under the automatic route of investment based on the proposed activity of the company in India.
When the remittance for such foreign direct investment is remitted to India, then the purpose code of the remittance is required to be communicated to the receiving bank by way of an email confirmation and through the FDI Declaration. The purpose code of remittance is also required at the time of filing FC-GPR to RBI, Here is the List of purpose code in the tabular presentation.
| Purpose Code | Description |
|---|---|
| P1301 | Inward remittance from Indian non-residents towards family maintenance and savings |
| P1401 | Compensation of employees |
| P0094 | Debit from the Vostro a/c of overseas bank or correspondents (Country-wise Totals) |
| P1020 | Wholesale and retailing trade services. (INVOICE) |
| P1011 | Inward remittance for maintenance of offices in India |
| P1302 | Personal gifts and donations |
| P1108 | Health Service (Receipts on account of services provided by Indian hospitals, doctors, nurses, paramedical and similar services, etc. rendered remotely or on-site) |
| P1107 | Educational services (e.g. fees received for correspondence courses offered to a non-resident by Indian institutions) |
| P0006 | Foreign Direct Investment made by overseas Investors in India in equity shares |
| P0008 | Foreign Direct Investment made by overseas Investors in India in real estate |
| P0103 | Advance receipts against export contracts, which will be covered later by GR/PP/SOFTEX/SDF – other than Nepal and Bhutan |
| P1019 | Commission agent services |
| P1006 | Business and management consultancy and public relations services |
| P0306 | Other travel receipts |
| P0214 | Receipts on account of other transportation services (stevedoring, |
| P0301 | Purchases towards travel (Includes purchases of foreign TCs, currency notes, etc over the counter, by hotels, Emporiums, institutions, etc. as well as the amount received by TT/SWIFT transfers or debit to Non-Resident account). |
| P0222 | Receipts on account of freights under other modes of transport (Internal Waterways, Roadways, Railways, Pipeline transports, and Others) |
| P0001 | Repatriation of Indian Portfolio investment abroad in equity capital (shares) |
| P0002 | Repatriation of Indian Portfolio investment abroad in debt instruments. |
| P0003 | Repatriation of Indian Direct investment abroad (by branches & wholly-owned subsidiaries and associates) in equity shares |
| P0004 | Repatriation Indian Direct investment abroad (by branches & wholly-owned subsidiaries and associates) in debt instruments |
| P0005 | Repatriation of Indian investment abroad in real estate |
| P0007 | Foreign Direct Investment made by overseas Investors in India in debt instruments. |
| P0009 | Foreign Portfolio Investment made by overseas Investors in India in equity shares |
| P0010 | Foreign Portfolio Investment made by overseas Investors in India in debt Instruments. |
| P0011 | Repayment of loans extended to Non-Residents |
| P0012 | Long & medium-term loans, with an original maturity of above one year, from Non-Residents to India (External Commercial Borrowings) |
| P0013 | Short term loans with original maturity up to one year from Non-Residents to India (Short-term Trade Credit) |
| P0014 | Receipts o/a Non-Resident deposits (FCNR(B)/NR(E)RA, etc.) (ADs should report these even if funds are not “swapped” into Rupees) |
| P0015 | Loans & overdrafts taken by ADs on their own account. (Any amount of loan credited to the NOSTRO account which may not be swapped into Rupees should also be reported) |
| P0016 | Purchase of a foreign currency against another currency. |
| P0017 | Receipts on account of Sale of non-produced non-financial assets (Sale of intangible assets like patents, copyrights, trademarks, etc., land acquired by the government, use of natural resources) – Government |
| P0019 | Receipts on account of Sale of non-produced non-financial assets (Sale of intangible assets like patents, copyrights, trademarks, etc., use of natural resources) – Non-Government |
| P0020 | Receipts on account of margin payments, premium payment and settlement amount, etc. under Financial derivative transactions |
| P0021 | Receipts on account of sale of share under Employee stock option |
| P0022 | Receipts on account of other investment in ADRs/GDRs |
| P0024 | External Assistance received by India e.g. Multilateral and bilateral loans received by Govt. of India under agreements with other govt. / international institutions. |
| P0025 | Repayments received on account of External Assistance extended by India |
| P0028 | Capital transfer receipts (Guarantee payments, Investment Grant is given by the government/ international organization, exceptionally large Non-life insurance claims including claims arising out of natural calamity) – Government |
| P0029 | Capital transfer receipts ( Guarantee payments, Investment Grant is given by the Non-government, exceptionally large Non-life insurance claims including claims arising out of natural calamity) – Non-Government |
| P0091 | Purchase from Reserve Bank of India (Currency-wise Totals) |
| P0092 | Purchase from other ADs in India (Currency-wise Totals) |
| P0093 | Purchase from Overseas banks & correspondents (Currency-wise Totals) |
| P0095 | Aggregate Purchases at Branches (Currency-wise Totals) |
| P0099 | Other capital receipts not included elsewhere |
| P0100 | Exports (Totals) (N/P/D + Collection bills Realised during Fortnight + Advance received during Fortnight) (Purchases from Public against exports (Currency-wise Totals)) |
| P0101 | Value of export bills negotiated/purchased/discounted etc. (covered under GR/PP/SOFTEX/EC copy of shipping bills etc.) – Other than Nepal and Bhutan |
| P0102 | Realisation of export bills (in respect of goods) sent on collection (full invoice value) – Other than Nepal and Bhutan |
| P0104 | Receipts against the export of goods not covered by the GR /PP /SOFTEX /EC copy of shipping bill etc. (under Intermediary/transit trade, i.e., third-country export passing through India |
| P0105 | Export bills (in respect of goods) sent on collection – other than Nepal and Bhutan |
| P0107 | Realisation of NPD export bills (full value of the bill to be reported) – other than Nepal and Bhutan |
| P0109 | Export realization on account of exports to Nepal and Bhutan, if any |
| P0144 | Purchases from Public against third country exports (Currency-wise Totals) |
| P0201 | Receipts of surplus freight/passenger fare by Indian shipping companies operating abroad |
| P0202 | Receipts on account of operating expenses of Foreign shipping companies operating in India |
| P0205 | Receipts on account of operational leasing (with crew) – Shipping companies |
| P0207 | Receipts of surplus freight/passenger fare by Indian Airlines companies operating abroad. |
| P0208 | Receipt on account of operating expenses of Foreign Airlines companies operating in India |
| P0211 | Receipt on account of operational leasing (with crew) – Airlines companies |
| P0215 | Receipts on account of other transportation services (stevedoring, demurrage, port handling charges, etc).( Airlines companies) |
| P0216 | Receipts of freight fare -Shipping companies operating abroad |
| P0217 | Receipts of passenger fare by Indian Shipping companies operating abroad |
| P0218 | Other receipts by Shipping companies |
| P0219 | Receipts of freight fare by Indian Airlines companies operating abroad |
| P0220 | Receipts of passenger fare –Airlines |
| P0221 | Other receipts by Airlines companies |
| P0223 | Receipts on account of passenger fare under other modes of transport (Internal Waterways, Roadways, Railways, Pipeline transports, and Others) |
| P0224 | Postal & Courier services by Air |
| P0225 | Postal & Courier services by Sea |
| P0226 | Postal & Courier services by others |
| P0302 | Business travel |
| P0304 | Travel for medical treatment including TCs purchased by hospitals |
| P0305 | Travel for education including TCs purchased by educational institutions |
| P0306 | Other travel receipts |
| P0308 | Foreign Currencies/TCs surrendered by returning Indian tourists. |
| P0501 | Receipts on account of services relating to the cost of construction of projects in India |
| P0502 | Receipts on account of construction work carried out abroad by Indian Companies |
| P0601 | Life Insurance premium except for term insurance |
| P0602 | Freight insurance – relating to import & export of goods |
| P0603 | Another general insurance premium including reinsurance premium; and term life insurance premium |
| P0605 | Auxiliary services including commission on insurance |
| P0607 | Insurance claim Settlement of non-life insurance; and life insurance (only term insurance) |
| P0608 | Life insurance claim settlements (excluding term insurance) received by residents in India |
| P0609 | Standardised guarantee services |
| P0610 | The premium for pension funds |
| P0611 | Periodic pension entitlements e.g. monthly quarterly or yearly payments of pension amounts by Indian Pension Fund Companies. |
| P0612 | Invoking of standardised guarantees |
| P0701 | Financial intermediation except investment banking – Bank charges, collection charges, LC charges, etc. |
| P0702 | Investment banking – brokerage, underwriting commission, etc. |
| P0703 | Auxiliary services – charges on operation & regulatory fees, custodial services, depository services, etc. |
| P0801 | Hardware consultancy/implementation |
| P0802 | Software consultancy/implementation (other than those covered in SOFTEX form) |
| P0803 | Database, data processing charges |
| P0804 | Repair and maintenance of computer and software |
| P0805 | News agency services |
| P0806 | Other information services- Subscription to newspapers, periodicals, etc. |
| P0807 | Off-site Software Exports |
| P0808 | Telecommunication services including electronic mail services and voice mail services |
| P0809 | Satellite services including space shuttle and rockets, etc. |
| P0901 | Franchises services |
| P0902 | Receipts for use, through licensing arrangements, of produced originals or prototypes (such as manuscripts and films), patents, copyrights, trademarks, industrial processes, franchises, etc. |
| P1002 | Trade-related services – commission on exports/imports |
| P1003 | Operational leasing services (other than financial leasing) without operating crew, including charter hire- Airlines companies |
| P1004 | Legal services |
| P1005 | Accounting, auditing, bookkeeping services |
| P1007 | Advertising, trade fair service |
| P1008 | Research & Development services |
| P1009 | Architectural services |
| P1010 | Agricultural services like protection against insects & disease, increasing harvest yields, forestry services. |
| P1013 | Environmental Services |
| P1014 | Engineering Services |
| P1015 | Tax consulting services |
| P1016 | Market research and public opinion polling service |
| P1017 | Publishing and printing services |
| P1018 | Mining services like on-site processing services analysis of ores etc. |
| P1021 | Operational leasing services (other than financial leasing) without operating crew, including charter hire- Shipping companies |
| P1022 | Other Technical Services including scientific/space services. |
| P1101 | Audio-visual and related services like Motion picture and videotape production, distribution and projection services. |
| P1103 | Radio and television production, distribution and transmission services |
| P1104 | Entertainment services |
| P1105 | Museums, library, and archival services |
| P1106 | Recreation and sporting activity services |
| P1109 | Other Personal, Cultural & Recreational services |
| P1201 | Maintenance of foreign embassies in India |
| P1203 | Maintenance of international institutions such as offices of IMF mission, World Bank, UNICEF, etc. in India. |
| P1303 | Donations to religious and charitable institutions in India |
| P1304 | Grants and donations to governments and charitable institutions established by the governments |
| P1306 | Receipts / Refund of taxes |
| P1307 | Receipts on account of migrant transfers including Personal Effects |
| P1403 | Inward remittance towards interest on loans extended to non-residents (ST/MT/LT loans) |
| P1405 | Inward remittance towards interest receipts of ADs on their own account (on investments.) |
| P1408 | Inward remittance of profit by branches of Indian FDI Enterprises (including bank branches) operating abroad. |
| P1409 | Inward remittance of dividends (on equity and investment fund shares) by Indian FDI Enterprises, other than branches, operating abroad |
| P1410 | Inward remittance on account of interest payment by Indian FDI enterprises operating abroad to their Parent company in India. |
| P1411 | Inward remittance of interest income on account of Portfolio Investment made abroad by India |
| P1412 | Inward remittance of dividends on account of Portfolio Investment made abroad by India on equity and investment fund shares |
| P1501 | Refunds/rebates on account of imports |
| P1502 | Reversal of wrong entries, refunds of the amount remitted for non-imports |
| P1503 | Remittances (receipts) by residents under the international bidding process. |
| P1505 | Deemed Exports ( exports between SEZ, EPZs and Domestic Tariff Areas) |
| P1590 | receipts below Rs. 5 lakhs (Currency-wise Totals) |
| P1591 | Non-Exports equivalent & above Rs.5 lakhs (Currency-wise Totals) |
| P1601 | Receipts on account of maintenance and repair services rendered for Vessels, Ships, Boats, Warships, etc. |
| P1602 | Receipts of maintenance and repair services rendered for aircraft, Space shuttles, Rockets, military aircraft, etc. |
| P1701 | Receipts on account of processing of goods |
| P2088 | Opening Balance (Debit Balance in Mirror/Debit Balance in Vostro) |
| P2199 | Closing Balance (Debit Balance in Mirror/Debit Balance in Vostro) |
Mentioning of correct purpose code is important and if you need any assistance, request you to kindly send us an email athelp@setindiabiz.com.
