📌 Key Takeaway: How Indian SaaS companies, exporters, and freelancers can integrate Stripe/PayPal, obtain Import Export Code (IEC), and collect FIRS certificates for GST audit safety.
Setting Up Cross-Border Payments in India
Indian software exporters, SaaS platforms, and freelancers accepting international payments must comply with RBI FEMA guidelines and DGFT regulations.
Prerequisites and Gateway Comparison
- Import Export Code (IEC): 10-digit DGFT license mandatory for international trade.
- Stripe India vs PayPal: Stripe offers lower transaction fees (~2%-3%) and automated daily INR settlements; PayPal provides global brand trust with 3.5%-4.4% fees.
- FIRC / FIRS Certificates: Essential banking certificates proving inward remittance in convertible foreign exchange for 0% GST export compliance.